Armenia and ADB
In the Spotlight
Poverty in Armenia fell considerably in the 2000s, with the national poverty rate dropping from 54% in 2004 to about 28% in 2008. The trend reversed in 2009 when it rose to 34% in 2009, while extreme poverty more than doubled. In 2013, 32% of the population was poor, and 2.7% extremely poor.
ADB’s Armenia Resident Mission, in conjunction with the IDeA Foundation and Gyumri Project Hope Foundation organized a forum on the current state of the city and plans of action for its future.
ADB commemorated the 10th anniversary of its partnership with Armenia, which aims to boost the country’s economy and improve the people’s quality of life.
Since gaining independence in 1991, Armenia has made considerable progress as a nation. The country, however, still faces development challenges, economic risks, governance problems, and constraints on regional and global integration. There is also a need within Armenia to strengthen infrastructure and make growth more inclusive.
ADB's country partnership strategy, 2014-2018 helps Armenia integrate its economy regionally and rebalance it toward more resilient, inclusive, and environmentally sustainable growth. It supports improving transport links, upgrading secondary towns, and strengthening energy security.