President receives Asian Development Bank Vice President Wencai Zhang

President Serzh Sargsyan received Wencai Zhang, Vice President of Asian Development Bank.

Welcoming the guest, the President of Armenia highly appreciated ADB’s mission and role in promoting economic development in Armenia, stressing that during the 12 years of cooperation with the Bank which has become a reliable partner for the country, numerous programs have been implemented in Armenia, covering both the public and private sectors. President Sargsyan expressed the hope that the effective cooperation will continue ahead.

The ADB Vice President said he has kept warm memories of his meeting with President Serzh Sargsyan in New York on the sidelines of the investment forum, and went on to note that the ADB-Armenia cooperation has recorded tangible progress ever since.

Wencai Zhang noted that the nearly three dozen major programs, implemented in several important sectors of Armenia’s economy with a view to developing infrastructures, promoting reforms, enhancing the quality of public administration, furthering public-private sector partnership, have affected favorably the country’s economic development.

The ADB Vice President said that the Bank is currently developing the 2019-2023 Armenia Partnership Strategy, which will cover both mid-term and long-term development programs. In this context, Wencai Zhang asked the President which economic priorities could be placed at the heart of the new strategy in order to become cooperation programs for the years to come. He stressed that ADB is ready to assist Armenia not only with the implementation of international projects, but also with the efforts aimed at promoting regional cooperation.

The President of Armenia asked the ADB Vice President to focus on infrastructure development programs, as he believes that these programs may go a long way towards enhancing the country’s economic competitiveness. In the President’s opinion, it is impossible to have a competitive economy without developed infrastructure.

As another priority for Armenia, President Sargsyan singled out the reforms in such key areas as the betterment of social, financial and business environments, the improvement of urban transport systems, the digitization of the economy and others.

The ADB Vice President assured that the Bank will continue to help implement programs of key importance for Armenia’s economic development, including the digitization of the economy.