YEREVAN, August 5. /ARKA/. The Eurasian Development Bank (EDB) is implementing its country strategy for Armenia at an advanced pace, EDB Board Chairman Nikolai Podguzov said at a press conference today in Yerevan.
“We believe that we will have to increase the amount of planned $250 million investments for the next five-year period after having $150mln worth investment for 2022 alone,” he explained.
As Podguzov noted, the country strategy adopted by the Bank in mid-2021, which went into effect in early 2022, remains generally relevant, but there may be some adjustments due to changed realities.
One of the priorities of the EDB’s strategy in Armenia for 2022-2026 is to ensure food security by increasing the productivity of the agricultural sector, helping to reduce the country’s dependence on imports of key agro-industrial products.
The Eurasian Development Bank (EDB) comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. Its authorized capital is $7 billion. The EDB’s portfolio is dominated by projects with integration effects in transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering. -0-
