ADB working out Country Partnership Strategy for Armenia

President Serzh Sargsyan today received the Vice President of the Asian Development Bank (ADB) Wencai Zhang, President’s Press Office reported.

The President praised the ADB’s cooperation with Armenia and its activities aimed at developing Armenia’s infrastructure and ensuring steady economic growth. Serzh Sargsyan thanked the bank for supporting Armenia for many years and said that Wencai Zhang’s visit bore witness to the firm relationship between Armenia and the ADB.

Wencai Zhang expressed satisfaction with the fact that the bank has been collaborating with Armenia since 2005 and underscored that the ADB was working on the Country Partnership Strategy for Armenia for the upcoming 5 years and was ready to support the development of priority spheres in Armenia, including infrastructure (transport, energy, road construction, urban development, water supply), as well as state-private sector cooperation, local technical assistance capacity building, promotion of regional collaboration, encouragement of investments, export stimulation and development of an innovative and knowledge-based economy. Noting that it was his first visit to Armenia, Wencai Zhang underlined that he was impressed with Armenia, a country with great development potential. He also expressed the bank’s readiness to organize an investment forum in Armenia which will give Armenia’s economy the opportunity to attract new foreign investments and will stimulate realization of primary projects.

At the meeting the parties attached great importance to the works of the North-South Road Corridor and exchanged views on Armenia’s economic development opportunities following its accession to the Eurasian Economic Union. Wencai Zhang congratulated President Serzh Sargsyan on Armenia’s accession to the treaty and expressed the opinion that it can provide ample opportunities for the development of Armenia’s economy.

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