ArmInfo. The Yerevan Municipality and the Asian Development Bank (ADB) agreed to decide on programs in new areas of cooperation in the near future. This was stated during the meeting of Yerevan Mayor Hrachya Sargsyan with Director of the Armenian office of the Asian Development Bank Paolo Spantigati.
According to the press service of the Mayor's office, Hrachya Sargsyan expressed satisfaction with the results of cooperation with the ADB, noting that Yerevan is interested in the implementation of new projects. He expressed readiness on behalf of the mayor's office and the government to continue those programs that are aimed at developing the infrastructure of the capital. In this regard, it was noted that, together with the Bank, a program is being implemented to build new Bagratashen-Ashtarak and Argavand-Shirak road sections.
Paolo Spantigati, in turn, noted that Yerevan is an important and reliable partner for the ADB, which guarantees the implementation of new programs and expansion of cooperation.
Presenting his approaches to reforming the transport system, Mayor Sargsyan noted the importance of modernizing Yerevan public transport stops, installing electronic timetable displays, introducing smart traffic lights in the city, as well as building a new bus station in the Jrvezh district, which also provides for the establishment of gas filling stations, filling stations for diesel fuel and bus washing.
According to the source, the Mayor also met with Head of the European Bank for Reconstruction and Development Armenia Office Dimitri Gvindadze. During the conversation with the head of the EBRD, Sargsyan noted that the community of Yerevan has a special relationship with environmental protection. In this regard, the mayor attached importance to the purchase of electric buses. According to the source, together with the EBRD, Yerevan Municipality is implementing a number of programs. In particular, with the support of the Eastern Europe Energy Efficiency and Environment Partnership (E5P), the EBRD is implementing a city lighting program in Yerevan to improve the urban lighting infrastructure. In addition, within the framework of the solid waste management program, it is planned to build a new landfill on the territory adjacent to the Nubarashen garbage dump, as well as close the existing ones in the Nubarashen and Ajapnyak districts.
The Asian Development Bank (ADB) has been working with Armenia since 2005. As of January 1, 2020, the bank provided Armenia with 31 loans in the amount of $1.46 billion, including 11 loans for the private sector. During this time, ADB has allocated technical support grants to the state for a total of $14.9 million.
The EBRD is the leading institutional investor in Armenia. As of September 2021 and since the start of its operations in Armenia (since 1992), the European Bank for Reconstruction and Development has invested 1.56 billion euros in the implementation of 191 programs in the financial, corporate, infrastructure, and energy sectors. Moreover, 91% of these investments are directed to the development of private entrepreneurship. The European Bank for Reconstruction and Development invested $ 175 million in Armenia at the end of 2021.
