Armenia to establish office for coordinating ADB programs

YEREVAN, March 10. /ARKA/. Armenia has already embarked on establishment of an office for coordinating construction programs being implemented in cooperation with Asian Development Bank, Armenian Prime Minister Tigran Sargsyan said Wednesday at his meeting with Werner Lipack, vice president of the bank’s department on central and western regions.

Sargsyan said that Armenia attaches importance to cooperation with Asian Development Bank.

North-South highway construction was among the issues discussed at the meeting.

The premier said that construction of this road is one of Armenian government’s top-priority focuses.

Creation of free trade zone in Yerevan’s Zvartnots Airport was among topics under discussion.

The Armenian prime minister and the representative of Asian Development Bank also spoke about railway construction and development of transportation links.

Sargsyan expressed appreciation of the bank’s support.

He said he has instructed the economy ministry to work out a comprehensive export-spurring program for 2010.

The premier expressed hope that involvement of the bank’s experts in this project will be useful to Armenia.

Asian Development Bank has already provided $21.4 million of $48 million under the tree-year program aimed at recovery of rural roads.

The Asian Development Bank was established in 1966. The bank has 67 members.

Armenia joined the bank on September 20, 2005.

Armenia has signed a number of agreements and the mutual understanding memorandum with the Asian Development Bank.

The bank’s rural road and water supply projects in Armenia are estimated to cost $83 million.-0–

spot_img

POPULAR

Armbanks Weekly Digest: Key Events in the Armenian Financial Market (August 17–23)

Key developments in Armenia's financial market this week included new banking compliance requirements, measures against account fraud, and decisions related to capital market development.

A unique greenhouse complex opened in Armenia

A unique greenhouse complex for tomato cultivation, equipped with artificial intelligence, robotics, and the latest technologies, has officially opened in the village of Nor Yedesia in the Aragatsotn region, according to the press service of Acba Bank.

The investment portfolio of Armenian banks in the second quarter amounted to 1.93 trillion drams, a decline of 9.5% year-to-date

The total investment portfolio of commercial banks in Armenia at the end of June 2026 amounted to 1,933,341,220 thousand drams, a decrease of 202.38 billion drams, or 9.48%, year-to-date.

Armenia’s public debt will remain stable at just above 40% in the medium term – S&P

Armenia's public debt (excluding liquid assets) will remain broadly stable at just above 40% of GDP in the medium term, according to a report from the international rating agency S&P Global Ratings.

Central Bank of Armenia has identified the reasons for the acceleration of inflation to 5.1% in June

External price pressure, rising local food prices, and a slight expansion of domestic demand contributed to the acceleration of annual inflation in Armenia from 3.9% in June 2025 to 5.1% in June 2026.

LATEST NEWS

spot_imgspot_imgspot_img