Eurasian Development Bank discusses with Armenia the progress in preparation of the Irrigation System Modernization Project of the Anti-Crisis Fund

Moscow, 1 April 2015. In the framework of the preparation for implementation of the Irrigation System Modernization Project in Armenia, a delegation of EDB led by Head of the Programme Division, Anti-Crisis Fund (ACF) Project Group, Artak Azizyan held working meetings at the end of March 2015 with the authorities of Armenia, as well as a range of technical experts involved in the project.

In the framework of meetings with Vice Prime Minister of Armenia Vache Gabrielyan, Deputy Minister of Finance Armen Gevorgyan and acting Director of the State Committee of Water Management Gagik Khachatryan, the experts discussed general issues of cooperation between ACF and Armenia, as well as the irrigation project preparation and implementation schedules.

The team also held discussions in Yerevan with the management of the Water Sector Programmes Implementation Unit of the Republic of Armenia and the technical consultants involved in the project preparation. The discussion covered the assessment of readiness of the project documentation and options for the project implementation.

In addition to discussions with the government, the team also held consultations on joint project preparation and implementation with World Bank Country Manager in Armenia Lora Bailey. The team discussed the issues of coordinating efforts in the water sector in Armenia with Zara Chatinyan, local representative of thе German development bank KfW, and Typhaine Rampillon, a representative of the French agency for development (AFD). The meeting with Mark Horton, IMF mission chief to Armenia, focused on cooperation of the two institutions in the area of macroeconomic policies of the country.

Additional Information

Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https:// /.

The EurAsEC Anti-Crisis Fund (ACF) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of six countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The objectives of the ACF are to assist the member countries in overcoming the consequences of global financial crisis, ensure their economic and financial stability, and foster integration processes in the region. The ACF member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the ACF Resources Manager. Read more at https://efsd.org/.

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