19
10, 2011

President Serzh Sargsyan received delegation of the Board of Directors of EBRD

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President Serzh Sargsyan received today delegation of the Board of Directors of the European Bank for Reconstruction and Development (EBRD).

The President assessed the visit of the EBRD delegation to Armenia as a step aimed at the development of cooperation with our country and hailed Bank’s activities in Armenia. Noting, that cooperation with the EBRD was established from day one of Armenia’s independence and the framework of cooperation expands from year to year, Serzh Sargsyan said that the Bank’s participation will be encouraging for any important and prospective program in the Armenian economy. According to the President, this efficient cooperation increases also confidence in our country and encourages the flow of foreign investments.

Members of the EBRD Board of Directors first of all congratulated President Sargsyan on Armenia’s 20th anniversary of independence and noted that the purpose of the visit was to discuss priorities of cooperation to incorporate them in the EBRD 2012-2015 strategy plan for Armenia, also to observe Armenia’s current economic situation and the Bank’s ongoing programs. Representatives of the Bank noted that the Government of Armenia has conducted certain work to improve business climate in Armenia. They stressed, in particular, the importance of departmental reforms, reformation of the tax legislation and work on some other directions, underscoring that in some areas there are still issue which require addressing, noting that the EBRD is ready to assist in the process.

Members of the EBRD Board of Directors discussed with the President of Armenia possibilities of cooperation in other areas as well.

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