ADB board to consider new five-year partnership strategy with Armenia in first quarter of 2024

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Economy

22.02.2023, 13:07

The Asian Development Bank's (ADB) partnership strategy with Armenia for 2024-2028 is under development and is expected to be presented to the ADB Board of Directors in the first quarter of 2024, ADB Senior Economist Grigor Gyurjyan told ARKA news agency.

ADB board to consider new five-year partnership strategy with Armenia in first quarter of 2024

YEREVAN, February 22. /ARKA/. The Asian Development Bank's (ADB) partnership strategy with Armenia for 2024-2028 is under development and is expected to be presented to the ADB Board of Directors in the first quarter of 2024, ADB Senior Economist Grigor Gyurjyan told ARKA news agency.

"In the near future, ADB plans to start discussing with partners in the Armenian government the priorities and directions of partnership for the next five-year period," he said.

Speaking about new possible joint projects Gyurjyan explained that they are constantly and periodically discussed with partners in the Armenian government.

According to him, the implementation of new projects is conditioned by the strategic priorities and needs of the government.

"According to ADB's five-year (2019-2023) partnership strategy program, the bank's sectoral priorities are infrastructure (roads, urban economy and energy); human capital development (education, health) and financial and capital markets," he said.

Gyurjyan added that similar sectoral priorities within ADB's strategy have also been approved for the bank's operations with the private sector.

"As such, no framework or program packages have been established," the ADB senior economist said.

ADB has been working with the Armenian government since 2005. During that time, 38 sovereign and non-sovereign loans have been approved, as well as a special assistance grant. So far, the total amount of investments is $1.74 billion. Armenia has also received 48 technical assistance grants totaling $25.9 million. -0-

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