YEREVAN. - President of Armenia Serzh Sargsyan on Wednesday received the World Bank (WB) Vice President for Europe and Central Asia, Cyril Muller.

Welcoming Mr Muller, President Sargsyan stressed that teh former's subsequent visit to the country once again indicates Armenia's close partnership ties with the WB. The President lauded WB's role in Armenia's social and economic development, stressing that the bank has since the beginning been considered by Armenia not only as a reliable partner financing investment programs, but also one developing and supporting human skills.

Sargsyan expressed hope that the partnership established between Armenia and the WB will maintain the positive traditions and experience formed, while the program directions will acquire a new quality, expressing the global economic challenges and regional developments, as well as special inclinations and political priorities of individual countries.

Both sides underscored the importance of implementing continuous reforms in Armenia, ensuring sustainable economic growth through promoting export and raising competitiveness. The President stressed that Armenia will be consistent in carrying out the reforms aimed at the improvement of the economic environment.

Recalling that Wednesday marks the anniversary of devastating Spitak quake, the WB Vice President, for his part, noted that the bank launched its activity in Armenia by implementing restoration programs in the affected settlements, successfully developing cooperation in the following years and extending it to various fields of Armenia's economy.  

According to him, next year marks the 25th anniversary of WB's partnership with Armenia. Currently, they are implementing diagnostics and assessment programs in the areas where they can be a success. Mr Muller also assured that the WB will do its best to support Armenia in its progress.