IFC pledges further support to Armenian governemnt

On the sidelines of his working visit to Washington, Prime Minister Hovik Abrahamyan met with International Finance Corporation CEO Jin-Yong Cai.

Highlighting the role played by World Bank Group member International Finance Corporation (IFC) in the development of Armenia’s economy, Hovik Abrahamyan stressed the need to keep up the pace of cooperation. Over USD 320 million-worth of investment projects have been implemented in our country for the last 15 years, mainly in the fields of financial markets, manufacturing and mining industries.

“Our country has carried out serious institutional and regulatory reforms to improve the business and investment environment, including with the IFC’s support,” the Prime Minister said. Hovik Abrahamyan emphasized that the inspection reform is central on the Government’s policy agenda and his government will honor its commitments in this field. He considered it important that the IFC has increased its participation in the World Bank’s ongoing partnership strategy with Armenia.

Appreciating the IFC-Armenia bilateral cooperation, the IFC chief executive officer pointed to the effectiveness of the Armenian reforms and said they would continue to help the Government implement various projects in agribusiness, energy and other sectors, increase the investment portfolio in the real sector. During the meeting, the parties took the time to look at other cooperation-related matters.

While in Washington, Prime Minister Hovik Abrahamyan met with ANCA representatives to discuss Armenia’s foreign and home policy agenda, as well as economic development-related issues.

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