EBRD considers infrastructure and energy security among the key factors for Armenia's economic resilience
12.05.2026,
18:26
Armenia's economic resilience rests on several key factors, said Elisabetta Falcetti, the bank's Executive Director for Turkey and the Caucasus, in an interview with ARKA news agency.
YEREVAN, May 12. /ARKA/. Armenia's economic resilience rests on several key factors, said Elisabetta Falcetti, the bank's Executive Director for Turkey and the Caucasus, in an interview with ARKA news agency.
She cited these factors as reliable infrastructure and energy security; diversified exports and markets; strong and well-capitalized financial institutions; competitive and innovative small and medium enterprises; human capital; and inclusive development, including support for refugees.
"Armenia's private sector has already demonstrated a high capacity to adapt to change, and further progress in reforms will remain crucial to maintaining economic resilience," she emphasized.
Responding to a question about how the EBRD supports government initiatives while simultaneously fostering private sector development, Falcetti noted that the bank's model is based on the principle of complementarity.
"We support governments in areas where public investment or reforms have a significant impact on private sector development, such as infrastructure, regulation, or market institutions. The bulk of our funding goes to private enterprises, often through partner banks," she explained.
The Executive Director added that this balance ensures that government initiatives stimulate, rather than crowd out, private investment, and that reforms and financing develop in parallel.
She cited these factors as reliable infrastructure and energy security; diversified exports and markets; strong and well-capitalized financial institutions; competitive and innovative small and medium enterprises; human capital; and inclusive development, including support for refugees.
"Armenia's private sector has already demonstrated a high capacity to adapt to change, and further progress in reforms will remain crucial to maintaining economic resilience," she emphasized.
Responding to a question about how the EBRD supports government initiatives while simultaneously fostering private sector development, Falcetti noted that the bank's model is based on the principle of complementarity.
"We support governments in areas where public investment or reforms have a significant impact on private sector development, such as infrastructure, regulation, or market institutions. The bulk of our funding goes to private enterprises, often through partner banks," she explained.
The Executive Director added that this balance ensures that government initiatives stimulate, rather than crowd out, private investment, and that reforms and financing develop in parallel.