EFSD and the Ministry of Finance of the Republic of Armenia Sign Memorandum of Cooperation

The Eurasian Fund for Stabilization and Development (EFSD) and the Ministry of Finance of the Republic of Armenia have signed a Memorandum of Cooperation, under which the Fund will help design and roll out digital solutions to modernize the Ministry's human resources management.

The adoption of modern digital tools lays the groundwork for applying and advancing contemporary public sector management approaches, including OKR, KPI, and BSC frameworks. The implementation of the commitments set out in the Memorandum will contribute to improving public administration processes, enhancing performance monitoring mechanisms and broadening the practice of digital governance.

The initiative to introduce an innovative management system has been personally praised by Prime Minister Nikol Pashinyan, and the Ministry of Finance has subsequently been recognized with an award for innovation in public administration.