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ADB endorses new 5-year country strategy to support economic diversification, inclusiveness in Armenia

26.11.2019 17:50

ADB endorses new 5-year country strategy to support economic diversification, inclusiveness in Armenia

YEREVAN, November 26. /ARKA/. The Asian Development Bank (ADB) said today it has endorsed a new 5-year country partnership strategy for Armenia focused on increasing economic diversification and ensuring that economic growth benefits all Armenians.

It said in a press release that Armenia became an upper middle-income country in 2018, but the country faces several development challenges including the economy’s heavy dependence on commodities, persistent poverty, and women’s labor force participation that is below 50%.

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