The Asian Development Bank (ADB) has been a key partner in supporting Armenia’s development agenda, economic growth, and reform programmes since 2005. ADB’s operations in Armenia are aligned with the government’s priorities and ADB’s strengths.
Since its founding in 1966, ADB has been dedicated to improving people’s lives in Asia and the Pacific. The main devices for ADB’s assistance are loans, grants, policy dialogue, technical assistance, and equity investments. During its partnership with Armenia, ADB has been providing loans and technical assistance to public and private sectors for the implementation of large-scale development projects in the country. ADB’s assistance in Armenia has been focused on inclusive economic growth, infrastructure improvements (particularly of roads and water-supply systems), upgrading secondary towns, strengthening energy sustainability in the country, and financing for small and medium-sized enterprises.
Some of the ADB’s key projects in ARM are the North-South Road Corridor Investment Programme; Sustainable Urban Development Investment Program (SUDIP); Water Supply and Sanitation Sector Project; Solid Waste Management Improvement Investment Programme; and the Women’s Entrepreneurship Support Sector Development Programme. There are special programmes implemented through private sector financing such as modernisation of the Sevan Hrazdan Cascade hydropower system, and the Zvartnots Airport Expansion Project.
Technical Assistance to Government
ADB has made a long-term commitment in Armenia and aims to help the government fine-tune its economic policy for each identified strategic sector. One of ADB’s goals in Armenia is to support the government’s “Armenia Development Strategy 2025”. The strategy focuses on growth of employment, development of human capital, improvement of the social protection system, and institutional modernization of public administration and governance. ADB’s 2014-2016 country operations business plan for Armenia supports inclusive and environmentally sustainable growth and regional integration, as well as the government’s objective of increasing employment.
North-South Road Corridor
One of ADB’s key projects in Armenia, the North-South Road Corridor Investment Programme, is designed to improve the Agarak-Kapan-Yerevan-Bavra road that crosses Armenia from south to north. This vital economic artery links with Georgia’s east-west highway that leads to Poti and Batumi on the Black Sea. The route plays a pivotal role in landlocked Armenia’s economy since it provides the shortest access to seaports and connections to Europe, the Russian Federation, and Turkey. This is one of the major investment programmes in Armenia in scope and impact.
International Investment Forum
ADB is currently providing technical assistance for promoting investment in Armenia. It aims to finance upgrading of mechanisms fostering investments in the country through promotion, preparation of efficient investment proposals, and targeted marketing and matchmaking activities. The project includes an international investment forum to take place in 2015. The forum will focus on strategic industrial sectors in Armenia that could benefit from foreign investment. The main target audience for the forum is multinational manufacturing companies that are looking to invest in Armenia’s strategic sectors or intending to expand their export potential in the region.
