Armenia and ADB
In the Spotlight
ADB Trade Finance Program (TFP) has approved its first-ever trade loans in Armenia under its Revolving Credit Facility (RCF). The RCF loans, which support pre-shipment and post-shipment trade transactions, were extended to three Armenian banks—Ameriabank, Ardshinbank, and ArmEconomBank.
Supporting financial institutions is important as countries in Central Asia and the Caucasus work to reform and modernize their economies, says ADB's Nana Khurodze.
ADB has signed a $1 billion framework agreement with the Eurasian Development Bank to expand cofinancing activities in Armenia, Kazakhstan, Kyrgyz Republic, and Tajikistan. The agreement was signed by ADB President Takehiko Nakao and EDB Chairman Dmitry Pankin.
The overarching goal of ADB's country partnership strategy, 2014-2018 for Armenia is to help integrate its economy into the region, and to rebalance it toward more resilient, inclusive, and environmentally sustainable growth. Efforts to realize these goals include improving domestic and cross-border transport links, upgrading secondary towns based on integrated urban development plans, and improving the country’s energy security.