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Monday, 23 September 2019

Tigran Avinyan Receives EBRD First Vice President


 On September 23, 2019, Deputy Prime Minister Tigran Avinyan received a delegation led by First Vice President of European Bank for Reconstruction and Development (EBRD) Jürgen Rigterink.

Tigran Avinyan thanked the EBRD for effective cooperation, which covers an investment package worth over 1.3 billion euros and 178 programs, and has helped create a more stable financial sector in Armenia, modernize the energy system, road and water infrastructures, as well as to increase the country’s competitiveness.

Thankful for the reception, Jürgen Rigterink noted that impressive transformations are taking place in Armenia, and the Banks is ready to assist the country in achieving even greater success. In this context, he evoked the launch on September 20 of the “EU SME Fund - Armenia” activity, of which EBRD is a key participant.

During the meeting, reference was made to the new EBRD strategy for 2019-2024, which is to be approved at an EBRD Board meeting in late November. The interlocutors next discussed the strategic cooperation priorities. They emphasized the dynamic style of work in the implementation of programs.

Deputy Prime Minister Avinyan highlighted the fact that most of the Bank’s investment package is focused on the private sector, which is not only a major source to alleviate the lack of finance in this field, but also to promote an advanced corporate governance culture, accountability and transparency.

The interlocutors next discussed issues related to partnership between the state and the private sector, the development of the local capital market, and the initial public offering of shares of companies. They touched on road and water infrastructures, intensive agriculture, renewable energy, public transport, information technology and the possibility of launching new initiatives.

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