Armenian deputy prime minister and ADB Yerevan office head discuss further cooperation

22.01.2020 15:44
Armenian deputy prime minister and ADB Yerevan office head discuss further cooperation

YEREVAN, January 22. /ARKA/. Armenia's Deputy Prime Minister Tigran Avinyan received today the new director of the Yerevan Office of the Asian Development Bank (ADB) Paolo Spantigati.
Greeting the guest, Tigran Avinyan congratulated him on his appointment and attached importance to the effective partnership between the government of Armenia and the ADB.

Spantigati presented the ADB 5-year Country Partnership Strategy 2019-2023 and the 2020-2022 Action Plan.

The 5-year Country Partnership (CPS) is designed to foster diversified growth and wider inclusiveness with sovereign and non-sovereign financing for priority infrastructure investments in transport, energy, and urban development; knowledge and policy-based assistance and investments for service delivery reforms in education, health, and financial services; and support for regional cooperation and integration.

In this context, Avinyan pointed out the importance of increasing ADB assistance to the private sector.
The interlocutors also discussed the current status of the ADB-financed North-South transport corridor program and spoke also about the aspects of the sustainable development of the capital Yerevan and regional towns. They spoke also about energy programs, improving the seismic safety of schools, as well as ongoing and planned projects in the private sector.

ADB has been working with the Armenian government since 2005. As of November 2019, it provided 31 loans totalling $1.46 billion, including 11 loans to the private sector. ADB also provided technical assistance grants totalling $14.9 million. As of June 30, 2019, ADB's active portfolio included 13 public and private loans totalling $809.8 million.

The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development. -0-

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