YEREVAN, ARMENIA (3 June 2022) — Asian Development Bank (ADB) Vice-President Shixin Chen has reaffirmed the bank’s commitment to Armenia’s development agenda in a series of meetings with the country’s top officials this week.

During his visit from 31 May to 4 June, Mr. Chen met with President Vahagn Khachaturyan, Prime Minister Nikol Pashinyan, Deputy Prime Minister Mher Grigoryan, Minister of Finance and ADB Governor Tigran Khachatryan, Minister of Economy Vahan Kerobyan, Minister of Territorial Administration and Infrastructure Gnel Sanosyan, and Minister of Justice Karen Andreasyan, among other senior government officials. Mr. Chen also met development partners, including the International Monetary Fund, the World Bank, the United Nations, and the United States Agency for International Development (USAID), and he is scheduled to meet Yerevan Mayor Hrachya Sargsyan tomorrow.

“ADB highly values its enduring partnership with Armenia and will continue to support the country’s goal of achieving an export-oriented, knowledge-based, and inclusive economy,” said Mr. Chen on his second visit to Armenia since 2019.  “We will continue supporting investments that increase Armenia’s competitiveness, enhance green financing, digitalization, public administration, regional cooperation and integration, and help small and medium-sized enterprises where job creation is greatest.”

Mr. Chen said ADB will also broaden the scope of its support for the government’s strategic priorities in health, education, and other social sectors.

ADB is one of Armenia’s largest multilateral development partners. Since 2005, ADB has provided financial assistance worth more than $1.6 billion, supporting government priorities in transport, energy, water, and urban infrastructure, among others. The bank’s assistance to the private sector covers utilities and infrastructure, financial institutions, and agribusiness.

This week, Mr. Chen also assessed progress along the ADB-supported North–South Road Corridor and visited the historical city center of Gyumri, the second-largest city in Armenia, where ADB has supported urban planning that valorizes cultural heritage.

Tomorrow he will attend the inauguration of a new bridge in the capital, which is part of the ADB-financed Argavand–Shirak Road connecting northern and southern Yerevan. The bridge helps divert traffic around the city center and significantly reduces travel time from north to south of the capital.

Mr. Chen also visited Yerevan School N.45 and Sasunik village school, two schools being considered for reconstruction or renovation according to international seismic safety standards. Mr. Chen also visited Armeconombank OJSC (AEB), a nonsovereign client of ADB that lends to micro, small, and medium-sized enterprises in Armenia with a specific focus on women and businesses outside the capital.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

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