YEREVAN. – Armenian Prime Minister Tigran Sargsyan received a delegation led by President Suma Chakrabarti of the European Bank for Reconstruction and Development (EBRD).   

“Numerous projects would not have been implemented in Armenia, if it had not been for the technical and financial support by EBRD,” the PM stressed. Also, he highly appreciated the effective cooperation strategy.

In his turn, Chakrabarti expressed satisfaction with the bilateral cooperation and reflected on the several EBRD-supported projects in Armenia.  

Upon the request of the EBRD chief, the PM informed about Armenia’s economic situation as a result of the global economic crisis, and spoke about the prospects for—and the challenges facing—the country’s economic growth.  

The EBRD president expressed willingness to continue the assistance to the Armenian government.  

The interlocutors also exchanged views on the formation of civil society and the strengthening of democratic institutions in Armenia. 

Following the talk, the Government of Armenia and EBRD signed a loan agreement on improving the water supply infrastructure of Armenia’s capital city Yerevan.

Also, the Yerevan Municipality, Yerevan Jur [Water] Company, and EBRD signed a project agreement. Pursuant to the latter, the European Bank for Reconstruction and Development will provide a €5.4-million sovereign loan to Armenia, to improve the water supply for 1.1 million residents of Yerevan.