Friday, 18 November 2016
Areas for Armenia Government-European Investment Bank Cooperation Development Discussed
Prime Minister Karen Karapetyan received the delegation headed by the Vice-President of the European Investment Bank (EIB) Jan Vapaavuori.
The Prime Minister praised the cooperation with the EIB and noted the importance of the following co-financed projects already completed and in the process of implementation with the EIB: the construction of the North-South Highway, Caucasian transmission network, Yerevan Metro, the restoration of Yerevan water supply and solid waste management.
Karen Karapetyan expressed gratitude for the technical assistance received from the European Investment Bank under loan programs and noted that it significantly increases the relevance and effectiveness of the loans. The Prime Minister said the Government will now be more accurate in the spending of credit funds, given their purpose, and the multiplier effect. In this regard, Karen Karapetyan noted the importance of the planned signing of the second phase agreement on financing for SME worth EUR 50 million between the Central Bank of Armenia and the EIB
The Prime Minister said that the government is interested in developing a greater interaction and, proposed to consider agriculture and tourism as possible areas of cooperation, adding that the Government is preparing to introduce new strategies towards the development of these areas. Karen Karapetyan also informed that new funds will be created in individual sectors to stimulate businesses, and it is also possible to expand the cooperation between the Government and the EIB.
Jan Vapaavuori thanked for the warm reception and wished the new Government of the Republic of Armenia success in the realization of its ambitious reform agenda. The EIB Vice-President noted that he is aware of the Government’s steps aimed at improving the business environment stressed that the EIB stands ready to assist Armenian partners in this direction.
At the same time, Jan Vapaavuori said to be pleased with the current level of cooperation with the Government of Armenia and noted that the EIB has used large-scale funds to implement programs of strategic importance for our country. He expressed confidence that all joint programs will continue to promote the development and diversification of the Armenian economy. During the meeting, Karen Karapetyan and Jan Vapaavuori discussed a number of other issues of mutual interest.
