ArmInfo. The day before, RA Deputy Prime Minister Mher Grigoryan received World Bank (WB) Country Director for the Caucasus Region Roland Price.
As reported by the press service of the RA government, during the meeting both parties emphasized the importance of the new Partnership Framework for 2025-2029 approved by the World Bank Board of Directors. The importance of the document in terms of developing cooperation with the WB was emphasized.
The interlocutors discussed possible new areas of cooperation programs between Armenia and the World Bank. They exchanged views on the progress of public administration reforms, paying special attention to the development of a new strategic management methodology and the implementation of the digitalization agenda.
At the end of January, the World Bank Board of Directors approved a new five-year partnership framework with Armenia, within the framework of which the Bank's investment in the republic may amount to $1.3 billion.
The framework aims to reduce poverty and promote prosperity across the country by creating better jobs, improving human capital, and building resilience.
"Armenia has made significant development progress in recent years. However, infrastructure gaps, low levels of domestic and foreign investment, and high unemployment remain key challenges to growth. Uneven access to and outcomes in education and health in Armenia create constraints on the population's ability to work and productivity. The social protection system requires reform to better identify and support vulnerable groups in times of crisis. Armenia is also vulnerable to the impacts of climate change," the WB Armenia office said in a statement.
Recall that since 1992, the World Bank has provided about $3 billion to Armenia, including a current portfolio of about $400 million.
