ArmInfo. On September 6, Deputy Prime Minister of Armenia Suren Papikyan received the Chairman of the Management Board of the Eurasian Development Bank (EDB) Nikolay Podguzov and the delegation lead by him.
As the press service of the government informs, greeting the guests, the Deputy Prime Minister expressed satisfaction over the productive cooperation with the EDB. He noted that the cooperation between the Armenian Government and the EDB is a good basis for the successful implementation of future joint programs.
Chairman of the Management Board of the Eurasian Development Bank (EDB) Nikolay Podguzov congratulated Suren Papikyan on assuming the post of Deputy Prime Minister of the Republic of Armenia, emphasizing that the joint work and efforts of the Armenian Government and the EDB open prospects for successful economic development. He added that the EDB is interested in considerably increasing Armenia's portfolio in the next 5 years, seriously considering the opportunities for economic investments. The parties discussed the directions of economic development in Armenia, referring to specific sectoral programs. The prospects of the digital sphere, financial market, infrastructure, including road construction and railway capacity renewal and development were touched upon. The creation, launch and expansion of the "Journey without Covid-19" application was pointed out as the first successful example of the Armenian-Russian platform partnership. During the meeting, the new ways of cooperation between the Government of the Republic of Armenia and the EDB were discussed, as well as the possibility of using the state-private format in that.
The EDB delegation was also received by Deputy Prime Minister Mher Grigoryan. Welcoming the guest and the members of the delegation headed by him, the Deputy Prime Minister stressed the need to deepen cooperation between Armenia and the EDB, stressing the need to implement joint programs, especially in the field of infrastructure and finance. The Deputy Prime Minister also stressed the special role of the EDB in the development of integration within the framework of the Eurasian Economic Union. The interlocutors exchanged views on the necessary prerequisites for the development of the capital market in Armenia and possible steps to be taken in this direction.
The Eurasian Development Bank (EDB) is an international financial organization established by Russia and Kazakhstan in January 2006 with the aim of promoting the development of the market economies of the member states, their sustainable economic growth and the expansion of mutual trade and economic ties. The authorized capital of the EDB is US $ 7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan.
According to the Bank's Strategy for 2022 - 2026, the aggregate amount of EDB investments in Armenia, Kyrgyzstan and Tajikistan will reach $ 500 million by 2026. As stated in the document, separate strategies will be developed for each of the member countries of the Bank, taking into account macroeconomic characteristics. In order to achieve sustainable development goals (SDGs) and strengthen project activities in countries with "small" economies, the Bank plans to quickly respond to the needs and qualitatively strengthen the territorial offices of its presence, a flexible approach to the pricing of credit, investment, commission products, an adaptive approach to implementation in them projects.
