YEREVAN, September 23. /ARКА/. Armenia's Deputy Prime Minister Tigran Avinyan received today a European Bank for Reconstruction and Development (EBRD) delegation, led by its First Vice President Jurgen Rigtering.

The office of the Deputy Prime Minister said Avinyan thanked the EBRD for effective cooperation with Armenia, which includes an investment package worth more than 1.3 billion euros provided for implementation of 178 programs. He said they have contributed to the establishment of a more stable financial sector of the country modernization of the energy system, road and water infrastructures, as well as to an increased competitiveness of the country.

Rigtering was quoted as saying that Armenia is moving through impressive reforms, and the bank is ready to assist it in achieving even greater success. In this context, he mentioned the launch of the Armenia-EU SME Fund on September 20, which involves also the EBRD.

The sides were said to have discussed the new EBRD strategy designed for Armenia for 2019-2024, which will be submitted for approval by the EBRD Board in late November. The parties emphasized the importance of a dynamic style of work in the implementation of programs.

Avinyan stressed the importance of the fact that most of the bank's investment package is centralized in the private sector, which is not only an important source of alleviating the lack of finance, but also contributes to the popularization of management culture, reporting and transparency.

The sides also discussed the partnership between the state and the private sector, the development of the local capital market, as well as issues related to the initial public offering of companies. The parties then touched upon the programs and opportunities for implementing new initiatives in the field of road and water infrastructures, intensive agriculture, renewable energy, public transport and information technology. -0-