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Asian Development Bank to provide $500 million assistance to Armenia
in next five years
YEREVAN, February 9. / ARKA /. The Asian Development Bank (ADB) has
approved a new country partnership strategy with Armenia which
includes targeted support for infrastructure, urban development, and
energy to underpin more resilient, inclusive and sustainable growth.
"ADB plans to provide financial assistance of around $500 million over
the next five years to support improved transport links, to upgrade
secondary towns where poverty is highest, and to strengthen energy
security," David Dole, ADB's Country Director for Armenia, is quoted
as saying in a press release.
While ADB will continue financing infrastructure, it will aim to
gradually shift its focus to catalyzing support from the private
sector, and providing knowledge products and services. Given ADB's
limited resources and assistance from other development partners, ADB
won't be significantly involved in the finance, health, and education
sectors.
In the transport sector, ADB will continue to support improving the
north-south road corridor, and strengthening transport links between
and within secondary towns, especially those with the highest poverty
rates. To promote regional cooperation and integration, ADB will
coordinate with Georgia to help improve roads linking Armenia and
Georgia.
ADB will support urban development in towns with the highest poverty
rates by helping local governments prepare integrated urban
development plans, and financing needed infrastructure investments,
including in water supply, urban roads, and solid waste management.
Armenia's aging electricity infrastructure and heavy dependence on
imported fuels weaken its energy security. ADB will help address this
issue by supporting the development of renewable energy resources and
helping to rehabilitate and upgrade energy infrastructure.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the
Pacific through inclusive economic growth, environmentally sustainable
growth, and regional integration. Established in 1966, it is owned by
67 members - 48 from the region. In 2013, ADB assistance totaled $21.0
billion, including co-financing of $6.6 billion. Armenia joined ADB in
2005.-0-
http://arka.am/en/news/business/asian_development_bank_to_provide_500_million_assi stance_to_armenia_in_next_five_years/#sthash.XRs62ULs.dpuf
in next five years
YEREVAN, February 9. / ARKA /. The Asian Development Bank (ADB) has
approved a new country partnership strategy with Armenia which
includes targeted support for infrastructure, urban development, and
energy to underpin more resilient, inclusive and sustainable growth.
"ADB plans to provide financial assistance of around $500 million over
the next five years to support improved transport links, to upgrade
secondary towns where poverty is highest, and to strengthen energy
security," David Dole, ADB's Country Director for Armenia, is quoted
as saying in a press release.
While ADB will continue financing infrastructure, it will aim to
gradually shift its focus to catalyzing support from the private
sector, and providing knowledge products and services. Given ADB's
limited resources and assistance from other development partners, ADB
won't be significantly involved in the finance, health, and education
sectors.
In the transport sector, ADB will continue to support improving the
north-south road corridor, and strengthening transport links between
and within secondary towns, especially those with the highest poverty
rates. To promote regional cooperation and integration, ADB will
coordinate with Georgia to help improve roads linking Armenia and
Georgia.
ADB will support urban development in towns with the highest poverty
rates by helping local governments prepare integrated urban
development plans, and financing needed infrastructure investments,
including in water supply, urban roads, and solid waste management.
Armenia's aging electricity infrastructure and heavy dependence on
imported fuels weaken its energy security. ADB will help address this
issue by supporting the development of renewable energy resources and
helping to rehabilitate and upgrade energy infrastructure.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the
Pacific through inclusive economic growth, environmentally sustainable
growth, and regional integration. Established in 1966, it is owned by
67 members - 48 from the region. In 2013, ADB assistance totaled $21.0
billion, including co-financing of $6.6 billion. Armenia joined ADB in
2005.-0-
http://arka.am/en/news/business/asian_development_bank_to_provide_500_million_assi stance_to_armenia_in_next_five_years/#sthash.XRs62ULs.dpuf