The European Bank for Reconstruction and Development (EBRD) has adopted a new strategy for Armenia under which it will over the next four years give priority to enhancing the competitiveness of the private sector, improving the business environment, developing local the capital markets and funding infrastructure development.
Armenia’s economic growth has slowed down this year as a result of the broader regional downturn which affects the country via reduced trade, remittances and investment flows. In addition, the depreciation of the Armenian dram and a decrease of foreign currency reserves have impacted the country’s economy.
To speed up economic growth and support the government’s ambitious reform programme, which includes improving the business environment, the EBRD will focus on the following key priorities in its new strategy for Armenia:
The EBRD is the largest single investor in Armenia. To date, the Bank has committed almost €950 million in over 140 projects in all major sectors of the economy.
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