YEREVAN. – Armenia's Prime Minister Hovik Abrahamyan on Monday received the delegation of European Bank for Reconstruction and Development (EBRD) headed by President Suma Chakrabarti.

Prime Minister Abrahamyan noted the importance of the EBRD role in the development programs in the country, adding that Armenia is interested in further expansion and deepening of fruitful cooperation that is growing from year to year.

New draft strategy of cooperation for 2015-18 is being discussed and will include three main areas - the competitiveness of the private sector, development of capital markets, financing in local currency, stable and commercialized utilities.

Noting that business climate in Armenia developed significant during a year, EBRD President stressed the importance of implementing new projects in this area, as well as the progressive reforms in tax and customs sectors. Suma Chakrabarti also said that EBRD is ready to expand its support for the development of energy saving, road construction and creation of new infrastructure, reconstruction of Yerevan subway.