YEREVAN, February 22. /ARKA/. Asian Development Bank’s (ADB) senior economist Grigor Gyurjyan and project analyst Anna Sargsyan spoke in an exclusive interview with ARKA news agency about the ADB’s investments in Armenia, areas of cooperation and future partnership.
ARKA – What is the amount ADB invested into Armenia’s economy in 2022?
A. Sargsyan – The total amount of ADB’s investment in Armenia’s economy in 2022, including technical assistance, amounted to $147.2 million, up from $49.8 million in 2021, representing a significant growth of 196% from the previous year. The growth was mainly due to the Fiscal Stability and Financial Markets Program (Sub-Program 1) approved in December 2022 and the allocation of $100 million.
ARKA – What is the total amount of ADB’s investments in Armenia since the beginning of the bank’s activity in the country?
A. Sargsyan – ADB has been cooperating with the Armenian government since 2005. During that time 38 sovereign and non-sovereign loans have been approved as well as a special assistance grant. To this day, the total volume of investments is $1.74 billion. Armenia has also received 48 technical assistance grants worth $25.9 million.
ARKA – What is the total volume of ADB’s current portfolio in Armenia?
A. Sargsyan – The volume of ADB’s current portfolio in Armenia as of February 2023 is $647.5 million.
ARKA – What projects and how much does ADB intend to implement in Armenia this year?
G. Gyurdjyan – Potential new joint projects to be implemented by ADB with the Armenian government are constantly and periodically discussed with partners in the government. Implementation of new projects is conditioned by the strategic priorities and needs of the government. According to ADB’s five-year (2019-2023) partnership strategy program, the bank’s sectoral priorities are: infrastructure (roads, urban economy and energy), human capital development (education, health), and financial and capital markets. Similar sectoral priorities within ADB’s strategy have also been approved for the bank’s private sector operations. As such, no framework or program packages have been set.
ARKA – What are the main components and financial indicators of ADB’s partnership strategy with Armenia for 2024-2028?
G. Gyurjyan – ADB’s partnership strategy for 2024-2028 is still under development and it is expected to be submitted for consideration of the ADB Board of Directors in the first quarter of 2024. In the near future ADB is planning to start discussions with partners in the Armenian government on the priorities and directions of the partnership for the next five-year period. -0-
