Armenia

One of the EDB’s objectives until 2026 will be to support projects that build and upgrade basic infrastructure to protect the country’s energy and transport security and sustainable economic development.

• Priority 1.1. Developing and modernising energy infrastructure
• Priority 1.2. Developing sustainable and safe industrial and transport infrastructure

The EDB’s mission is to promote a market economy in its member countries. One of the Bank’s priorities will be to support the development and growth of export-oriented enterprises. This is directly linked to the national objective to promote the country’s competitiveness and balance of trade. Armenia’s mining and agriculture are economic sectors with export potential. The Bank will also support job creation in the service sectors such as tourism and retail.

• Priority 2.1. Modernising and setting up new high-performance enterprises
• Priority 2.2. Developing tourism and increasing the share of services, including digital ones, in foreign trade

is crucial to Armenia’s sustainable economic growth in the strategy period to 2026. The EDB’s main objective is to help reduce dependence on imports of key agro-industrial commodities and to develop a food supply chain.

• Priority 3.1. Improving agricultural productivity
• Priority 3.2. Supporting the development of a commodity distribution network

In the new strategic period, the EDB will continue to support the development of Armenia’s financial system. The Bank will also work with banks to support targeted lending programmes. In addition, it will be open to other forms of cooperation with intermediaries, including participation in investment funds or innovative special-purpose vehicles. To further support enhancement of the country’s financial sector and government initiatives to de-dollarise the banking sector, the EDB will seek opportunities to lend in the national currency.

• Priority 4.1. Developing financial infrastructure
• Priority 4.2. Increasing the capacity of the financial services market, including with targeted SME financing programmes

The Armenian government identifies digital technologies as a strategic development objective. Today, technology is needed to ensure efficient governance and intensive economic development. As part of its digital agenda for Eurasian integration, the EDB will help to implement projects that exchange and disseminate the digitalisation expertise of the countries in which it operates and will finance projects that set up shared digital platforms. The Bank has established the Fund for Digital Initiatives to support digital transformation in its countries, including Armenia. To identify promising digital projects, the EDB will work closely with the country’s state authorities, including in respect of measures outlined in Armenia’s 2021–2025 Digitalisation Strategy and Plan of Action.

• Priority 5.1. Promoting the development of safe and sustainable digital solutions and infrastructure
• Priority 5.2. Improving the efficiency of data circulation