Armenia

The Eurasian Development Bank (EDB) presented the latest issue of the Macroeconomic Review for its six member states. The Macroeconomic Review is a regular publication by the EDB, which provides a snapshot of the macroeconomic situation and projects short-term developments in its member countries. The review also contains statistical information on key macroeconomic indicators

The Government of Armenia, the Eurasian Development Bank (EDB) and Lydian Armenia have expressed their willingness to restart and implement the Amulsar gold mine project. A trilateral protocol was signed following a meeting between Vahan Kerobyan, Minister of Economy of Armenia; Denis Ilin, Vice Chairman of the EDB Management Board; Armen Melkikyan, EDB Country Director for Armenia; Jeffrey Coach, Member of the Board of Directors at Lydian Armenia; and Hayk Aloyan, CEO of Lydian Armenia

The Eurasian Development Bank (EDB) presented the latest issue of the Macroeconomic Review for its six member states. The Macroeconomic Review is a regular publication by the EDB, which provides a snapshot of the macroeconomic situation and projects short-term developments in its member countries. The review also contains detailed statistics on key macroeconomic indicators

Effective management of Central Asia’s water and energy complex in the Aral Sea basin becomes increasingly important every year. Coordinated approach could ease natural, economic, technical and social uncertainties in ensuring sustainable water use and reliable energy supplies. The EDB’s new report, Regulation of the Water and Energy Complex of Central Asia, scrutinises historical data and international experience to suggest five institutional solutions that would benefit all countries of the region. In particular, the report proposes to establish the project consortium to promote faster construction and more efficient operation of major hydro-electric objects and validates a model for a financial operator’s engagement in the regulation of Central Asia’s water and energy complex

The EDB has published its Macroeconomic Outlook for the Bank's six member states for 2023. Bank analysts expect the region’s economies to continue adapting to the new environment. In terms of economic developments in 2023, Russia’s GDP is projected to decline by 2% while the other countries will see growth in their GDPs: Armenia by 4.2%, Belarus by 0.3%, Kazakhstan by 4.2%, Kyrgyzstan by 3.5%, and Tajikistan by 6.5%

The optimal scenario for developing Central Asia’s energy system, as proposed by the Eurasian Development Bank (EDB), would reduce investment needs in the region’s water and energy complex by US $11 billion, slow increases in the average tariffs for consumers from 50 to 35 per cent, and reduce installed capacity needs from 84.0 GW to 74.8 GW, said Alexander Gareyev, Managing Director and Head of the EDB Directorate for Energy, at the Second Almaty Energy Forum

A new report by the Eurasian Development Bank (EDB, the Bank) focuses on structural changes in Central Asian economies. Over the past 20 years, Central Asian countries’ GDP has grown more than sevenfold, and at an average rate of 6.2%, which is faster than in developing countries and more than twice as fast as the world as a whole. Central Asia’s strategic role in wider Eurasia will increase, as will its importance to its immediate neighbours and key economic partners, Russia and China. The region’s countries have a historic opportunity to take advantage of their transit potential and to approach external markets through their emerging international transport corridors. Coordinated development of the water and energy complex, including green energy, also present significant opportunities for growth. Integration initiatives have significant potential to stimulate economic growth, with infrastructure integration being especially important

The International North–South Transport Corridor (INSTC) becomes increasingly important as some EAEU countries reorientate their foreign trade and develop “new logistics.” For this reason, the Caspian countries are seeking to boost investment in the corridor’s transport infrastructure. EDB experts estimate that more than 100 projects are being planned for implementation before 2030. At the same time, over 40 non-tariff and other barriers impede the effective functioning of the corridor. A new EDB study provides recommendations on how to improve soft infrastructure, including the creation of an enabling environment for international freight transport, the harmonisation of border crossing procedures, and the introduction of a coordination mechanism for managing the INSTC

The Eurasian Development Bank (EDB) will provide up to US $37 million to finance the construction of 11 solar power plants with a total capacity of up to 65 MW in the Gegharkunik and Aragatsotn Regions of Armenia. The relevant documents were signed in Yerevan by Nikolai Podguzov, Chairman of the EDB Management Board, and Hayk Harutyunyan, President of the New Energy Group

The Eurasian Development Bank (EDB) and Tashir Group entered into a cooperation agreement, signed by Denis Ilin, Vice Chairman of the EDB Management Board, and Narek Karapetyan, First Vice President of Tashir Group, in the presence of Nikolai Podguzov, Chairman of the EDB Management Board. The parties have agreed to develop cooperation in the EAEU+ in metallurgy, telecommunications, energy and other sectors