World Bank ready to increase financial support to Armenia
YEREVAN, October 20. / ARKA /. The World Bank is providing consistent support to Armenia for the development of important segments of its economy and is ready to increase the amount of financial assistance in the future, the newly appointed Vice-President of the World Bank for Europe and Central Asia, Cyril Muller, said today at a meeting with Prime Minister Hovik Abrahamyan.
Cyril Muller was quoted by the government press office as describing World Bank’s partnership with Armenia as ‘unique’. According to him, Armenia is one of the countries in Europe and Central Asia showing the best performance indicators.
Abrahamyan in turn stressed that bilateral cooperation includes almost all sectors of the economy, saying the government is ready to expand it through the implementation of both ongoing and perspective programs.
The two sides were said to have discussed a wide range of issues on development of cooperation between Armenia and the World Bank. They agreed that the slow growth of the global economy affects both the Europe and Central Asia, including Armenia. In this context, they reaffirmed the bilateral readiness to use new tools and flexible approaches to overcome the existing challenges and enforce structural economic reforms.
In this aspect Abrahamyan attached importance to the implementation of infrastructure investments with the assistance of the World Bank. In particular, the sides discussed prospects for the implementation of programs in the field of energy and infrastructure development. The interlocutors also touched upon the process of developing a new Armenian Tax Code.
The prime minister expressed satisfaction with the cooperation with the World Bank Yerevan Office and stressed that he would be consistent in the implementation of all agreements reached.
The World Bank delegation also included the newly appointed World Bank Regional Director for the South Caucasus Mercy Tembon and the head of WB Yerevan Office Laura Bailey.
As of August 1 this year, the World Bank and IDA have provided Armenia with about $2.160 billion assistance. -0-
Cyril Muller was quoted by the government press office as describing World Bank’s partnership with Armenia as ‘unique’. According to him, Armenia is one of the countries in Europe and Central Asia showing the best performance indicators.
Abrahamyan in turn stressed that bilateral cooperation includes almost all sectors of the economy, saying the government is ready to expand it through the implementation of both ongoing and perspective programs.
The two sides were said to have discussed a wide range of issues on development of cooperation between Armenia and the World Bank. They agreed that the slow growth of the global economy affects both the Europe and Central Asia, including Armenia. In this context, they reaffirmed the bilateral readiness to use new tools and flexible approaches to overcome the existing challenges and enforce structural economic reforms.
In this aspect Abrahamyan attached importance to the implementation of infrastructure investments with the assistance of the World Bank. In particular, the sides discussed prospects for the implementation of programs in the field of energy and infrastructure development. The interlocutors also touched upon the process of developing a new Armenian Tax Code.
The prime minister expressed satisfaction with the cooperation with the World Bank Yerevan Office and stressed that he would be consistent in the implementation of all agreements reached.
The World Bank delegation also included the newly appointed World Bank Regional Director for the South Caucasus Mercy Tembon and the head of WB Yerevan Office Laura Bailey.
As of August 1 this year, the World Bank and IDA have provided Armenia with about $2.160 billion assistance. -0-