ADB presents 2023 key activities in Armenia

02.04.2024 | 11:55 Home / News /
#ADB #Armenia
In 2023 the Asian Development Bank (ADB) carried out major programs and projects in Armenia, which included infrastructure developments and technical support initiatives, comprising both ongoing endeavors and new initiatives.

During 2023, ADB approved another €66.1 (equivalent to $72.3 million) million loan as additional financing to support the Government of Armenia in building earthquake-resilient schools and strengthening its capacity for seismic disaster risk management.

“Key accomplishments include the completion of the M6 Vanadzor-Bagratashen section of the Armenia-Georgia border road and the completion of vital urban road infrastructure in Yerevan under the Sustainable Urban Development Investment Program (SUDIP) which includes the construction of 23 km of urban road links and urban walkways for increased road safety.  During 2023 under the Seismic Safety Improvement Program (SSIP), construction of nine schools was completed, design of ten schools is in process and construction of twenty schools is underway, aligning with international seismic safety norms,” the report says.

It also notes that ADB provided $65.17 million loan to the Government of Armenia to improve the urban environment, enhance the road network, and promote climate-resilient infrastructure in Armenia’s capital city Yerevan. The project aligns with the goals of the Paris Agreement, will boost river crossing capacity by 40%, and will reduce travel distances between the major roads of Isakov and Arshakunyats Avenues by more than 2 km, saving commuters on average 12 minutes in travel time.

Last year, with the joint efforts of ADB and the Ministry of Justice, the inaugural "International Arbitration Forum" was launched in Armenia.

“Throughout the year, high-level visits and meetings took place between delegations from ADB and the Government of Armenia, including RA President, Prime Minister, Deputy Prime Ministers, Minister of Finance/ADB Governor, and other partner Ministers. These meetings aimed to expand cooperation, assess program effectiveness, and support RA's implemented reforms. The visit of ADB President Masatsugu Asakawa to Armenia further confirmed the bank’s commitment to Armenia’s development agenda,” the news release reads.
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