ADB Working Out Country Partnership Strategy For Armenia


10:19, 04 Nov 2014

President Serzh Sargsyan today received the Vice President of the Asian
Development Bank (ADB) Wencai Zhang, President’s Press Office reported.

The President praised the ADB’s cooperation with Armenia and its
activities aimed at developing Armenia’s infrastructure and ensuring
steady economic growth. Serzh Sargsyan thanked the bank for supporting
Armenia for many years and said that Wencai Zhang’s visit bore witness
to the firm relationship between Armenia and the ADB.

Wencai Zhang expressed satisfaction with the fact that the bank has
been collaborating with Armenia since 2005 and underscored that the
ADB was working on the Country Partnership Strategy for Armenia for
the upcoming 5 years and was ready to support the development of
priority spheres in Armenia, including infrastructure (transport,
energy, road construction, urban development, water supply), as
well as state-private sector cooperation, local technical assistance
capacity building, promotion of regional collaboration, encouragement
of investments, export stimulation and development of an innovative
and knowledge-based economy. Noting that it was his first visit to
Armenia, Wencai Zhang underlined that he was impressed with Armenia,
a country with great development potential. He also expressed the
bank’s readiness to organize an investment forum in Armenia which
will give Armenia’s economy the opportunity to attract new foreign
investments and will stimulate realization of primary projects.

At the meeting the parties attached great importance to the works of
the North-South Road Corridor and exchanged views on Armenia’s economic
development opportunities following its accession to the Eurasian
Economic Union. Wencai Zhang congratulated President Serzh Sargsyan on
Armenia’s accession to the treaty and expressed the opinion that it can
provide ample opportunities for the development of Armenia’s economy.