Armenia: Crisis Recovery Support Program

Sovereign Project | 43087-013 Status: Closed


To accelerate Armenia's recovery from the adverse impact of the global financial crisis.

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Project Name Crisis Recovery Support Program
Project Number 43087-013
Country Armenia
Project Status Closed
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan 2529-ARM: Crisis Recovery Support Program
Asian Development Fund US$ 46.30 million
Strategic Agendas Inclusive economic growth
Drivers of Change
Sector / Subsector

Public sector management - Public expenditure and fiscal management - Social protection initiatives

Gender Equity and Mainstreaming Some gender elements
Description To accelerate Armenia's recovery from the adverse impact of the global financial crisis.
Project Rationale and Linkage to Country/Regional Strategy
Impact Armenia's recovery from the global financial crisis is accelerated, and the social and economic impact is mitigated.
Project Outcome
Description of Outcome Government adopts counter-cyclical fiscal measures.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

(i) Social protection expenditures increased

(ii) New jobs created through public investment programs

(iii) No salary and pension arrears

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Armenia
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services N/A
Procurement N/A
Responsible ADB Officer Asadullah Sumbal
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, CWRD
Executing Agencies
Ministry of Finance and Economy
Republic of Armenia
1, Melik-Adamyan Street
Yerevan 0010
Concept Clearance 22 May 2009
Fact Finding 16 Mar 2009 to 27 Mar 2009
MRM 25 May 2009
Approval 06 Jul 2009
Last Review Mission -
PDS Creation Date 16 Apr 2009
Last PDS Update 16 Apr 2010

Loan 2529-ARM

Approval Signing Date Effectivity Date Closing
Original Revised Actual
06 Jul 2009 15 Jul 2009 08 Oct 2009 31 Dec 2009 - 15 Oct 2009
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 46.30 Cumulative Contract Awards
ADB 46.30 06 Jul 2009 47.11 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 06 Jul 2009 47.11 0.00 100%
Title Document Type Document Date
Crisis Recovery Support Program Project/Program Completion Reports Dec 2010
Loan Agreement for Crisis Recovery Support Program between Republic of Armenia and Asian Development Bank dated 15 July 2009 Loan Agreement (Special Operations) Jul 2009
Crisis Recovery Support Program Reports and Recommendations of the President Jun 2009

Safeguard Documents

See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents

See also: Independent Evaluation
Title Document Type Document Date
Armenia: Crisis Recovery Support Program Validations of Project Completion Reports Dec 2012

Related Publications

None currently available.

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