ArmInfo. President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso believes that Armenia is a good example of productive assistance to the country and its reforms. She stated on May 16 at a press conference following the 33rd Annual Meeting of the Bank in Yerevan.
Odile Renaud-Basso recalled that the Bank works in Armenia with the banking sector, promotes small and medium-sized businesses, and provides consulting services. The Bank has invested over 2,087 million euros in the Armenian economy in 210 projects. Over the past 5 years alone, the EBRD has invested EUR 640 million in the country, 50% of which in the private sector, promoting its development, as well as improving infrastructure, renewable energy production and the digitalization of rural areas. The head of the EBRD considers the programs implemented by the Bank useful for the development of the private sector in Armenia. However, at this stage she refrains from assessing their effectiveness, noting that this will become obvious over time.
"The impact of the programs implemented by the EBRD on the economy of Armenia is unequivocal, but as of today it is difficult to clearly record their extent. Of course, the Bank's agenda includes the issue of introducing mechanisms for measuring the effectiveness of implemented programs, but I think the impact was significant," said the EBRD President.
The head of the Bank considers investments in the "green agenda, green transition" programs successful. As part of the EBRD's "green cities" concept, a program was implemented to purchase natural gas buses for the Yerevan Municipality. And this will remain on the Bank's agenda, she added.
"Armenia and I are working in the field of renewable energy (EBRD financed the construction of a Masrik- 1 large solar station, ed. note), which is very important, as well as in the direction of increasing energy security to reduce energy dependence on third countries, we saw the risks of this excessive dependencies in Europe. The issue is being discussed with the authorities and we will continue to assist in these areas," the president said.
On May 14 -16, the 33rd Annual Meeting of the European Bank for Reconstruction and Development (EBRD) was held in Yerevan. The event included an EBRD business forum under the slogan "Delivering Impact Together".
