World Bank Team to Discuss Business Environment Reform Program in  Armenia

ArmInfo.The Minister of Economy of the Republic of Armenia Tigran Khachatryan on the eve received the leading experts of the World Bank, headed by the member  of the Doing Business group Alejandro Espinosa - Van.

According to the press service of the department, the group is in  Armenia to discuss methodological issues related to the Doing  Business rating, as well as to support the Bank in further reforms in  the business environment. Tigran Khachatryan expressed satisfaction  with the launch of the next phase of the report, during which the  leading experts of the World Bank Group are currently negotiating  with the main stakeholders of the public sector through direct and  communication contacts. The Minister expressed his gratitude for the  prepared advisory report, which is a useful guide for considering  current resources and solving existing problems, as well as for  organizing further work.

The Minister noted that the annual assessment of the Bank is  important not only in terms of comparison with other countries, but  also to get a real idea of current problems. The Minister said that  the reform agenda will be drawn up through the development of medium  and long-term actions.  Alejandro Espinosa-Van thanked the Minister  for the meeting and effective discussions, pointing out the issues on  the agenda of the second round.

Recall that Armenia ranks 47th among 190 countries in the Doing  Business 2020 ranking, which is published annually by the World Bank.  According to the report, Armenia worsened its position by six points  - in the previous Doing Business 2019 report, it ranked 41st  place.  The annual Doing Business study evaluates the comfort of doing  business on the basis of ten indicators: ease of registering  enterprises, obtaining building permits, connecting to power grids,  obtaining loans, protecting the rights of minority investors, paying  taxes, international trade, contract enforcement, insolvency decision  (bankruptcy).

It should be noted that on March 29 last year, the Board of Executive  Directors of the World Bank (WB) Group approved the Country  Partnership Framework (CPF) program with Armenia for 2019-2023. in  the amount of about $ 500 million to promote stable and inclusive  growth, as well as improving living standards in the country. The new  CPF program is fully in tune with the five-year government program.  It is based on a vision formed by the government after the "velvet"  revolution in April 2018 and reflects a new political will to  overcome development restrictions and deepen reforms through  investments in the fight against corruption, strengthening the rule  of law and human capital. Armenia, which since 1992 has been a member  of the World Bank and since 1993 the International Development  Association (IDA), as of December 2018, funds were allocated in the  amount of $ 2.3 billion.