EBRD-Armenia Cooperation Priorities Discussed

YEREVAN — Prime Minister Karen Karapetyan received EBRD (European Bank for Reconstruction and Development) Board of Directors Dutch team leader Frans Weekers.

Appreciating the ongoing effective cooperation with the European Bank for Reconstruction and Development, which numbers several joint projects, the Prime Minister expressed readiness to deepen it on behalf of his government.

Highlighting the need to provide continued support for those projects intended for the private sector, the Prime Minister stated in part, “We are considering several projects during our visits to the regions of Armenia, which imply collaboration with the private sector and, as a tool, we would appreciate if the EBRD could take interest in cooperating in the proposed areas. The Government seeks to stimulate the business environment in different ways, and this process can change the business environment, since the ideas are being developed based on specific business logic.”

Given the vast experience accumulated by the EBRD in working with investors, the Premier suggested considering the possibility of cooperation in the frame of the Government Strategic Initiatives Center and the upcoming Investment Fund. Karen Karapetyan said the Government would appreciate if the Bank could contribute to the development of public-private partnership-related legislation and the establishment of the Office of Business Ombudsman.

Frans Weekers said Armenia and the EBRD boast long experience of successful cooperation that has led to numerous joint projects and initiatives. He welcomed the government’s steps aimed at improving the business environment and promoting private investment, as well as the short-term and long-term action plans.

Frans Weekers described as quite promising the idea of establishing a center for strategic initiatives and an investment fund and went on to note that the EBRD is ready to develop cooperation in the areas mentioned by the Prime Minister.

The parties took the opportunity to discuss issues related to the current strategy of GoA- EBRD partnership. In this context, they referred to the programs implemented in different fields of activity mediating both the public and private formats.b