ArmInfo. Armenian Finance Minister Vahe Hovhannisyan discussed the financing of priority projects at a meeting with French Ambassador to the Republic Florian Escudier.
According to the press service of the Armenian Ministry of Finance, the parties discussed, in particular, the results of the previous three-year budget support program, implemented jointly with the French Development Agency (AFD) and the Asian Development Bank (ADB). In this context, Hovhannisyan and Escudier also touched upon the new budget support program for 2026-2028, which plans to deepen and expand key reforms in public financial management, private sector development, and sustainable finance.
The Minister and Ambassador noted with satisfaction the effective development of the new program and the successful conclusion of negotiations on the first subprogram. They emphasized the importance of consistent implementation of the planned reforms and expressed their readiness to ensure the rapid and effective implementation of further procedures.
Considering the French Development Agency's extensive experience in reservoir construction, particularly the successful construction of the Vedi Reservoir, the Minister expressed hope that the agency will be actively involved in other priority projects envisaged by the Armenian government's program.
Separately, the parties discussed a wide range of issues related to the financing of the construction of the Bargushat Tunnel, which is part of the strategic Sisian-Kajaran section of the North-South Transport Corridor. In particular, they noted the project's key importance for increasing the capacity of Armenia's southern transport artery, ensuring security, and modernizing transit infrastructure. The parties discussed the format of France's participation, project solutions, and the preparatory and legal procedures necessary to commence construction.
During the meeting, the French side emphasized its readiness to actively support Armenian producers, stimulate trade, and facilitate the entry of Armenian products into the European Union (EU) market and the diversification of export geography. Hovhannisyan, in turn, praised France's support for the implementation of the Armenian government's reform agenda. At the end of the meeting, the parties expressed their readiness to continue and expand bilateral cooperation in areas of mutual interest.
