Deputy Prime Minister of Armenia Tigran Avinyan today participated in a teleconference devoted to the portfolio evaluation of the Eurasian Development Fund and delivered a speech in which he stated the following:

“In 2020, Armenia entered a stage of economic downfall due to the coronavirus pandemic and the war that Azerbaijan unleashed against Artsakh (Nagorno-Karabakh), and they had a negative impact on the course and effectiveness of implementation of programs. Nevertheless, through a policy of countering in order to overcome the economic crisis, the Armenian government addressed the ensuring of sharp growth of effectiveness of the implementation of capital investment programs. I’m certain that evaluation of the joint program portfolios will create additional guarantees for effectiveness of the programs, and this is extremely important to ensure the country’s fiscal stability.”

The current programs were considered during the portfolio evaluation of the Eurasian Development Fund. The participants of the teleconference touched upon the current stage of construction of the North-South Road, modernization of the irrigation system in Armenia, construction of the Mastara Reservoir, etc.

The interlocutors also discussed the grant programs such as “green energy” development and the introduction of energy-saving mechanisms in public buildings, the creation of an electronic labor exchange and more preparation for the challenges of the coronavirus pandemic in Armenia in order to detect and respond to the threats that have emerged.