EBRD provides 5.4 mln euros for reconstruction of the water supply system in Yerevan

Prime Minister Tigran Sargsyan received today the delegation headed by Suma Chakrabarti, President of the European Bank for Reconstruction and Development (EBRD).

Tigran Sargsyan hailed the effective cooperation strategy targeted at the strengthening of institutional capacities and development of the private sector.

EBRD President, in turn, praised the successful cooperation with Armenia and referred to the Bank’s support to the programs of development of small and medium-sized businesses in our country and improvement of the business environment.

PM Tigran Sargsyan briefed the EBRD President on the state of Armenian economy following the global economic crisis, presented the perspectives and challenges of development. He attached importance to the diversification of economy, development of institutional capacities and promotion of reforms.

Suma Chakrabarti expressed willingness to maintain the support to the Armenian Government in the process. Also, the parties discussed the perspectives of implementation of joint programs in the field of agriculture.

The interlocutors exchanged views on the formation of civil society in Armenia and the reinforcement of democratic institutions.

Following the meeting Armenian Minister of Finance David Sargsyan and EBRD President Suma Chakrabarti signed a loan agreement on the improvement of the water supply system in Yerevan, under which EBRD will provide a loan of 5.4 mln euros.

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