The RA Minister of Finance Vahe Hovhannisyan and the RA Deputy Minister of Finance Eduard Hakobyan are participating in the 56th annual meeting of the Asian Development Bank in Inchon (South Korea).
The first day of the working visit started with a meeting with the deputy president of the ADB. Issues related to the ADB portfolio in Armenia were discussed during the bilateral meeting, as well as the progress of the projects under implementation and new initiatives planned in the near future.
The Armenian delegation met with the newly appointed director of ADB's Armenian office, Donald Lambert, who will assume his position in the near future. The parties discussed issues related to future cooperation, both sides expressing willingness to further deepen and expand RA-ADB effective cooperation through joint efforts.
The delegation also had a separate meeting with the ADB Private Sector Operations Coordinating Team. Taking into account that, as a result of the ADB organizational review, there is a planned increase in private sector financing and non-sovereign operations, the Armenian side again emphasized the importance of expanding cooperation between the Republic of Armenia (RA) and ADB in this direction. This includes the assessment of the sector, development of new tools and mechanisms, as well as the exchange of knowledge, experience, and capacities for development.
A separate meeting was also held with representatives of the OPEC International Development Fund, during which discussions took place on various issues related to bilateral cooperation including issues related to the current budget support program implemented by OPEC.