Yerevan Mayor meet with ADB, EBRD representatives

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.