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The World Bank
Nov 7 2013
World Bank Group New Country Partnership Strategy for the Republic of Armenia
November 7, 2013
WASHINGTON, November 7, 2013 - A new Country Partnership Strategy
(CPS) for the Republic of Armenia for 2014-2017 was discussed today by
the World Bank Group's Board of Executive Directors. The four-year
strategy is a framework document outlining the World Bank Group's
support to the country.
The strategy is anchored in the Armenia Development Strategy 2025 and
places private sector-led job creation at the center of the World Bank
Group's response. It also stresses the improvement of labor
productivity in agricultural sector that supports the livelihood of
over one million of the rural population, and would lead to higher
economic growth, shared prosperity, and faster poverty reduction in
both urban and rural areas. The strategy proposes financial support of
US$ 843 million over the next four years, with access to the
International Development Association (IDA), International Bank for
Reconstruction and Development (IBRD), and International Finance
Corporation (IFC) funding.
'This Country Partnership Strategy seeks to catalyze bigger volumes of
resources to support Armenia's development', said Henry Kerali, World
Bank Regional Director for the South Caucasus. 'It aims to address
Armenia's vulnerability to external shocks and strengthen
competitiveness for post-crisis growth by supporting critical reforms
that will help boost job creation accompanied by more efficient and
equitable social services delivery.'
The strategy will support Armenia across two main engagement areas:
Supporting competitiveness and job creation by improving the ease of
doing business, promoting exports and tourism, and improving SME
access to finance; and
Improving efficiency and equity in social services delivery by
ensuring access of all, especially women, to quality health and
education services, and strengthening the social protection system.
Improving governance and anti-corruption measures in public services
is a cross-cutting focus. The strategy will help revamp the existing
anti-corruption framework, improve efficiency of the public
administration, and deepen public finance management reform.
"The World Bank Group's support through its focus on jobs aims to
harness the synergies of different sectors by introducing the
necessary reforms, leading to robust and sustained growth, and
benefitting the people of Armenia', said Jean-Michel Happi, World Bank
Country Manager for Armenia. `We will also aim to support business
creation, innovation and accessibility of economic infrastructures,
along with improved education and health service delivery.'
IFC, which is the World Bank Group's private sector arm, will continue
supporting the real sector through investments in competitive sectors
such as mining and agribusiness. IFC will also deepen its advisory
services operations in order to improve the investment climate with a
focus on the agribusiness sector, strengthen the financial sector, and
develop the market for investment in renewable energy.
`The private sector is critical to economic growth,' said Thomas
Lubeck, IFC Regional Manager for the South Caucasus. `IFC, with its
focus on private sector development, plans to leverage the power of
entrepreneurs to create jobs and support sustainable economic growth
in Armenia. We will continue to seek investment opportunities and
provide advice in the areas where those are needed most.'
Since Armenia joined the World Bank in 1992, US$1,746 million has been
allocated to different operations in the country. Currently, the World
Bank portfolio includes 14 active projects with total commitments of
US$445.4 million. Areas of support include five investment lending
operations in infrastructure, four in social sectors, three in public
sector, and two in ICT and agriculture. With Armenia becoming a member
and a shareholder of IFC in 1995, the organization has invested
US$271.5 million in the country. Those investments covered 44 projects
across a range of sectors, including financial markets, manufacturing,
and mining. IFC has also mobilized nearly US$9 million from other
lenders. IFC's Advisory Services group provides advice through
projects focusing on the financial sector, sustainable energy,
regulatory simplification, and food safety.
http://www.worldbank.org/en/news/press-release/2013/11/07/world-bank-group-new-country-partnership-strategy-for-the-republic-of-armenia
From: Baghdasarian
Nov 7 2013
World Bank Group New Country Partnership Strategy for the Republic of Armenia
November 7, 2013
WASHINGTON, November 7, 2013 - A new Country Partnership Strategy
(CPS) for the Republic of Armenia for 2014-2017 was discussed today by
the World Bank Group's Board of Executive Directors. The four-year
strategy is a framework document outlining the World Bank Group's
support to the country.
The strategy is anchored in the Armenia Development Strategy 2025 and
places private sector-led job creation at the center of the World Bank
Group's response. It also stresses the improvement of labor
productivity in agricultural sector that supports the livelihood of
over one million of the rural population, and would lead to higher
economic growth, shared prosperity, and faster poverty reduction in
both urban and rural areas. The strategy proposes financial support of
US$ 843 million over the next four years, with access to the
International Development Association (IDA), International Bank for
Reconstruction and Development (IBRD), and International Finance
Corporation (IFC) funding.
'This Country Partnership Strategy seeks to catalyze bigger volumes of
resources to support Armenia's development', said Henry Kerali, World
Bank Regional Director for the South Caucasus. 'It aims to address
Armenia's vulnerability to external shocks and strengthen
competitiveness for post-crisis growth by supporting critical reforms
that will help boost job creation accompanied by more efficient and
equitable social services delivery.'
The strategy will support Armenia across two main engagement areas:
Supporting competitiveness and job creation by improving the ease of
doing business, promoting exports and tourism, and improving SME
access to finance; and
Improving efficiency and equity in social services delivery by
ensuring access of all, especially women, to quality health and
education services, and strengthening the social protection system.
Improving governance and anti-corruption measures in public services
is a cross-cutting focus. The strategy will help revamp the existing
anti-corruption framework, improve efficiency of the public
administration, and deepen public finance management reform.
"The World Bank Group's support through its focus on jobs aims to
harness the synergies of different sectors by introducing the
necessary reforms, leading to robust and sustained growth, and
benefitting the people of Armenia', said Jean-Michel Happi, World Bank
Country Manager for Armenia. `We will also aim to support business
creation, innovation and accessibility of economic infrastructures,
along with improved education and health service delivery.'
IFC, which is the World Bank Group's private sector arm, will continue
supporting the real sector through investments in competitive sectors
such as mining and agribusiness. IFC will also deepen its advisory
services operations in order to improve the investment climate with a
focus on the agribusiness sector, strengthen the financial sector, and
develop the market for investment in renewable energy.
`The private sector is critical to economic growth,' said Thomas
Lubeck, IFC Regional Manager for the South Caucasus. `IFC, with its
focus on private sector development, plans to leverage the power of
entrepreneurs to create jobs and support sustainable economic growth
in Armenia. We will continue to seek investment opportunities and
provide advice in the areas where those are needed most.'
Since Armenia joined the World Bank in 1992, US$1,746 million has been
allocated to different operations in the country. Currently, the World
Bank portfolio includes 14 active projects with total commitments of
US$445.4 million. Areas of support include five investment lending
operations in infrastructure, four in social sectors, three in public
sector, and two in ICT and agriculture. With Armenia becoming a member
and a shareholder of IFC in 1995, the organization has invested
US$271.5 million in the country. Those investments covered 44 projects
across a range of sectors, including financial markets, manufacturing,
and mining. IFC has also mobilized nearly US$9 million from other
lenders. IFC's Advisory Services group provides advice through
projects focusing on the financial sector, sustainable energy,
regulatory simplification, and food safety.
http://www.worldbank.org/en/news/press-release/2013/11/07/world-bank-group-new-country-partnership-strategy-for-the-republic-of-armenia
From: Baghdasarian