On October 10, Deputy Minister of Economy of the Republic of Armenia Anushik Avetyan met with Vice President of the Asian Infrastructure Investment Bank (AIIB) Konstantin Limitovsky.
During the meeting, possible areas of cooperation and joint infrastructure development projects were discussed.
The Deputy Minister presented the Government of the Republic of Armenia's and the Ministry of Economy's priorities, strategic development directions, and current major infrastructure projects. He also touched upon construction projects of social significance, emphasizing that Armenia's membership in the AIIB will create new platforms for participating in major international and regional investment projects.
Anushik Avetyan emphasized the importance of AIIB's financing of private-sector projects, noting that it can be a significant stimulus to increase economic activity, improve the investment climate, and ensure the country's sustainable socio-economic development, while also reducing the burden on the state budget and external debt.
During the meeting, the RA Government's "Crossroads of Peace" initiative was also discussed. The parties noted that the partnership between the EBRD and Armenia can create new opportunities for regional integration, the implementation of joint programs across the public and private sectors, and the deepening of investment cooperation.
An agreement was reached to outline the main frameworks of cooperation, as a result of which it will be possible to identify areas where the EBRD, within its mandate or in partnership with other international donor organizations, can participate in the development and implementation of programs.
