ArmInfo. At the Financing for Development Forum, held under the auspices of the UN Economic and Social Council (ECOSOC), RA Deputy Finance Minister Edgar Mkrtchyan presented Armenia's strategic approaches to the global and regional financial agenda.
As reported by the RA Ministry of Finance press service, speaking at a side event titled "Bridging the Financing Gap: A Tool for Infrastructure Investment and Financing in Landlocked Developing Countries," the Deputy Minister noted that infrastructure is crucial for the economic development of landlocked developing countries, yet significant financing gaps continue to limit progress. He pointed out that the current financial instruments often fail to meet the specific needs of these countries, necessitating the creation of a new, targeted platform to stimulate investment and financing. Mkrtchyan emphasized that the proposed platform should be demand-driven, promote cooperation between international organizations and the private sector, facilitate program development, mitigate risks, and attract investment, while maintaining debt sustainability and climate resilience.
At a session titled "Key Trends and Updates to the Seville Agreement," the Deputy Minister addressed debt sustainability issues, emphasizing the importance of reducing the cost of capital, promoting responsible borrowing, and applying new approaches to creditworthiness assessment. He also presented reforms being implemented in Armenia to strengthen tax administration, increase the efficiency of public spending, and improve fiscal transparency as a foundation for enhancing economic resilience.
At the high-level meeting of the World Trade Organization (WTO) and the UN Conference on Trade and Development, Mkrtchyan, as a keynote speaker, emphasized the importance of an open, predictable, and inclusive multilateral trading system. He highlighted the growing role of digital trade and trade in services as an important area of economic diversification and called on international partners to support the development of digital infrastructure, communications, and regulatory capacity. The importance of creating local added value in the commodity market and developing production potential was also emphasized.
At the session dedicated to private business and finance, the Deputy Minister presented priorities for improving the investment climate, highlighting the RA government's "Crossroads of Peace" initiative. It was presented as an important tool for unlocking regional transport links, integrating trade, and increasing investment attractiveness.
Also, it was emphasized that private financing cannot replace public investment or international aid and must be effectively mobilized by reducing investment risks and using innovative financial instruments, including blended finance and guarantee mechanisms.
As part of the forum, Edgar Mkrtchyan also held meetings with representatives of international financial organizations, discussing the economic reform process in Armenia and prospects for using innovative development financing instruments.
