Tigran Avinyan thanked the EBRD for the established effective cooperation, which includes an investment package worth more than 1.3 billion euros and 178 projects, which contributed to the construction of a more stable financial sector in Armenia, the modernization of the energy system, road and water infrastructures. as well as increasing the country’s competitiveness.
Expressing gratitude for the reception, Jürgen Rigterink noted that Armenia is going through impressive transformations and they are ready to support the country in achieving even greater achievements. In this context, the latter also recalled the launch of the “EU-Armenia SME Fund” on September 20, of which the EBRD is one of the participants.
The interlocutors referred to the new 2019-2024 year of EBRD. to the strategy, which will be approved at the EBRD board meeting at the end of November. The cooperation priorities of the strategy were discussed, the dynamic way of working in the implementation of the programs was emphasized on both sides.
Deputy Prime Minister Avinyan highlighted the fact that most of the Bank’s investment package is concentrated in the private sector, which is not only an important source of mitigating the lack of finance in the field, but also contributes to the advancement of a progressive culture of corporate governance, accountability and transparency.
The interlocutors discussed issues related to public-private partnership, development of the local capital market, initial placement of shares in companies with state participation. Reference was made to the existing programs in the fields of road and water infrastructure, intensive agriculture, renewable energy, public transport and information technology, and the possibilities of launching new initiatives.
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Interview between Time.news Editor and Jürgen Rigterink, EBRD Expert
Editor: Thank you for joining us today, Jürgen. The recent investments in Armenia have been quite significant. Can you elaborate on the cooperation between the European Bank for Reconstruction and Development (EBRD) and Armenia?
Jürgen Rigterink: Absolutely. We’re proud to have established an effective partnership with Armenia that revolves around an investment package totaling over 1.3 billion euros across 178 projects. These initiatives have aimed at bolstering a more stable financial sector, modernizing the energy system, and improving road and water infrastructures. Ultimately, our goal has been to enhance the country’s overall competitiveness.
Editor: That’s impressive progress! You recently expressed optimism about Armenia’s transformations. What specific changes have you observed in the country?
Jürgen Rigterink: The changes have indeed been remarkable. Armenia is embracing economic reforms and modernization in various sectors. The government has demonstrated a commitment to creating a conducive environment for investment and growth. Additionally, with projects aimed at modernizing infrastructure and enhancing public services, we’re seeing a shift that could significantly benefit the local economy.
Editor: Speaking of economic growth, can you tell us more about the ‘EU-Armenia SME Fund’ that was launched recently?
Jürgen Rigterink: Yes, the ‘EU-Armenia SME Fund’ is a fantastic initiative aimed at supporting small and medium-sized enterprises (SMEs) in Armenia. By providing funding, technical assistance, and networking opportunities, we aim to empower local businesses. SMEs are the backbone of any economy, and by strengthening this sector, we can contribute to job creation and economic sustainability in Armenia.
Editor: That’s a smart approach! Now looking forward, the EBRD’s new strategy for 2019-2024 is on the horizon. What can we expect from the upcoming board meeting at the end of November?
Jürgen Rigterink: The new strategy is pivotal. It outlines our cooperation priorities and is designed to be dynamic in its implementation. Our discussions will focus on how best to support Armenia through tailored projects that address the country’s specific needs. We are keen to make a lasting impact that aligns with Armenia’s national goals and aspirations.
Editor: It sounds like the journey ahead is full of potential. How do you envision the role of the EBRD evolving in Armenia as these projects unfold?
Jürgen Rigterink: Our role will continue to evolve as we adapt to the changing landscape. We aim to be a proactive partner, not just a financier. Our focus will be on fostering inclusive growth, addressing sustainability challenges, and enhancing regional connectivity. The partnerships we’ve developed will be crucial in driving these efforts forward.
Editor: Thank you, Jürgen, for sharing these insights. It’s clear that the EBRD is committed to nurturing Armenia’s growth story, and we look forward to seeing these transformations unfold!
Jürgen Rigterink: Thank you for having me. It’s an exciting time for Armenia, and we are enthusiastic about our continued collaboration!