Armenia’s economy minister hails cooperation with Asian Development Bank

13:54 • 25.10.19
Economy

Minister of Economy Tigran Khachatryan on Friday received a delegation led by Paolo Spantigati, the country director of the Asian Development Bank (ADB), to discuss the ongoing joint projects and future cooperation opportunities.

Thanking Khachatryan for the reception and emphasizing the importance of cooperation with his agency, Mr Spantigati elaborated on the ADB’s multi-sectoral regional assistance programs. He hailed the government’s role in ensuring cooperation with the private sector, adding that they now intend to target the priorities and the main areas of funding through collaborative efforts.  

Praising the ADB as a major financial institution offering support to the Armenian Government, the minister called particularly for future discussions over the funding of private sector programs. He said that the bank’s increased attention to businesses will help reveal the problems in institutional development and the legislative regulations dealing with the joint-stock companies in Armenia (to promote future financial assistance guarantees and to increase investment opportunities). The minister also stressed the role of developing the bilateral capital market, public investments and the institutional sector.

According to a press release by the Ministry of Economy, the sides also discussed the main trends of developing a partnership strategy and possible future steps towards ensuring the permanency of the state-private sector cooperation. Additionally, they considered the possibility of increasing the efficiency of public administration and the capacities of the ADB’s sustainable urban development planning, focusing on future projects aiming to expand the development of small- and medium sized enterprises (SMEs) and ensure technical assistance in enhancing the business atmosphere.

 

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