YEREVAN. – The Initiatives for Development of Armenia (IDeA) Foundation and the European Bank for Reconstruction and Development (EBRD) on Wednesday signed a memorandum of understating (MoU) on cooperation.

The objective of this MoU is to enhance, on a non-exclusive basis, cooperation, and to facilitate collaboration between the parties to promote projects that support sustainable economic municipal infrastructure development in Armenia.

Acting General Director of IDeA Foundation, Edgar Manukyan, and Head of the EBRD Yerevan Office, Mark Davis, signed the memorandum.

‘“Tatev Revival’ and Dilijan development projects implemented by IDeA Foundation are firstly aimed at the development of community infrastructures and tourism in those regions,” said Manukyan. “We are happy to have an important partner such as the EBRD in development projects.

“We are sure our joint efforts will enable us to carry out larger-scale projects and ramp up cooperation to include other sectors as well.”

The Head of the EBRD Yerevan also highlighted the signing of this document.

“We look forward to continuing and deepening our mutual co-operation toward improvements in the business climate and regional economic development,” said Davis. “The EBRD is firmly committed to supporting the development of reliable and modern infrastructure in Armenia.”