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Official News

Wednesday, 30 September 2015

Government Reviews Armenia’s Economic and Infrastructure Development Program

Chaired by Prime Minister Hovik Abrahamyan, the Government discussed today Armenia’s economic and infrastructure development program, which was developed by the World Bank.

PM Abrahamyan stressed the need to build on the ongoing close cooperation between the Government and the World Bank in order to implement socio-economic programs in the provinces, identify the problems and find solutions.

The Prime Minister praised the Bank’s involvement in a number of areas, including balanced regional development, energy, infrastructure, tourism and others. Coming to the energy sector, Hovik Abrahamyan said the reforms will produce tangible results in the years to come, when we will have a stable and advanced energy system.

Noting that the World Bank is fully supportive of the Government’s priority programs, World Bank Yerevan Office Director Laura Bailey said the Bank will back Armenia’s economic development. Speaking about Armenia’s economy and infrastructure development program, Ms. Bailey pointed out that it seeks to promote balanced regional development, improve tourism infrastructure in the regions, attract investment, create new jobs and preserve the cultural heritage.

World Bank’s Europe and Central Asia Sustained Development Program Manager Ahmed Aiveda gave details of the planned measures and steps aimed at implementing Armenia’s development strategy and targets. Mr. Aiveda noted that Armenia’s economy and infrastructure development program aims to improve infrastructure services and institutional capacity to promote local economic development in the selected regions, increase the attractiveness of tourism, including the conservation of the cultural heritage and the development of tourism routes. Investment will target public infrastructure, roads, water supply, as well as the rehabilitation of public spaces, historic buildings and museums.

During the exchange of opinions that followed, the speakers came up with a number of recommendations to be discussed at upcoming meetings. PM Abrahamyan appreciated the program in terms of the projected steps and measures aimed at promoting balanced regional development, improving infrastructure and developing tourism in Armenia. The Prime Minister expressed confidence that the program will be implemented successfully through close cooperation with the World Bank.

Thanking the Government for close cooperation, Head of WB Yerevan Office Laura Bailey stressed Prime Minister Hovik Abrahamyan’s determination and consistency in developing and implementing the program.

December 2020