YEREVAN, April 9. /ARKA/. The Asian Development Bank (ADB) plans to invest $310 million in two projects in Armenia and to co-finance a $500 million housing construction project, Don Lambert, ADB Country Director for Armenia, said in response to ARKA News Agency’s question whether the previously announced two projects would be implemented and whether new ones were expected.
“One of the projects, in the health sector, is very important for us. The Armenian government now has to take all necessary actions to meet the conditions for investment. We expect this to happen in the first quarter of this year. ADB is inspired to move this project forward. Investing in the construction of clinics is a priority for us for the health and well-being of the citizens of Armenia,” Lambert said at the launch of ADB’s April Asian Development Outlook 2025 report.
The project concerns the approval of $50 million in targeted loan financing to improve health services through the Improving Health Care Quality program. Among the objectives of the program are the upgrade of 24 health facilities, strengthening the capacity to provide quality health services, and improve monitoring and reporting. The program will be supported by the Japanese government through a $2 million grant from the Japan Fund for Prosperous and Resilient Asia and the Pacific (JFPR).
Lambert also informed that ADB will focus on several areas in 2025. “An important project is the construction of the Sisian-Kajaran highway of the North-South corridor, in which $260 million will be invested. We are also discussing with the government a housing project for Armenians displaced in 2023,” Lambert said.
When asked by ARKA News Agency about investments in the housing program, he said that its budget is $500 million, ADB accounts for half of it and the other half is co-financed by another organization. The program is expected to be launched in 2025 and will last for several years. Program beneficiaries will be able to choose where they want to live – in Yerevan or the provinces; the level of financial support will depend on their decision.
ADB has successfully cooperated with the Armenian government on school construction and wants to develop this area in 2026; the size of the investment is under discussion.
“We are working on governance reforms and expect to continue working with the government on public sector reforms,” Lambert said.
As of last December, ADB invested $1.9 billion in Armenia’s economy since the start of its cooperation in Armenia in 2005.
ADB is committed to Armenia’s prosperous, inclusive, sustainable, and stable development, continuing to work closely with the government to realize its priorities.-0-
