Republican Party of Armenia

 Prime Minister Hovik Abrahamyan received a delegation led by Asian Development Bank (ADB) Central and West Asia Regional Director Klaus Gerhauzer.

Stressing the importance of the ongoing cooperation with the Asian Development Bank, the Prime Minister noted that he closely follows and keeps track of all the ADB-supported programs in Armenia. At the same time, pointing to the need to increase the effectiveness of donor-funded projects, Hovik Abrahamyan said to have issued clear-cut instructions for the relevant government departments to ensure effective implementation of the programs.

Appreciating the cooperation with the Government of Armenia, Klaus Gerhauzer thanked the Premier for mutual understanding and joint work. Mr. Gerhauzer said that the ADB leadership has unanimously approved a new five-year program of cooperation with Armenia, which outlines the main areas of interaction and abides by Armenia’s key development priorities. The document covers projects related to sustainable urban development, transport, energy and other areas of joint activities.

The parties next discussed issues pertaining to the North-South Road Corridor, the sustainable urban development program, the seismic safety of schools, the rehabilitation of community roads, the jointly scheduled International Investment Forum and the ADB-provided technical assistance.

While looking at the latest regional developments, Klaus Gerhauzer noted that the present economic challenges are associated with the global economic situation and added that the ADB stands ready to assist the Government to defy the challenges.