Armenia's "Crossroads of Peace" is very important and aligns with our concept – ADB's Don Lambert

The more Armenia is integrated into major regional economic projects, the lower the probability of war would be, Don Lambert, Country Director for the Asian Development Bank’s (ADB) Armenia Resident Mission, has said.

Speaking at a press conference, he emphasized that "this circumstance will inspire more confidence in investors."

He added that the further the peace process progresses in the South Caucasus, the more opportunities would arise for businessmen and representatives of various business sectors.

"Due to geopolitical developments, Armenia is located in a rather tense region—from Iran to Lebanon and Israel. Hence, Armenia’s Crossroads of Peace initiative is very important and aligns with our concept. It will contribute to economic integration, which in turn will provide the foundation for long-term economic growth," he said.

Lambert cited the example of the creation of a common market for coal and steel, established by a relevant agreement after World War II. Initially, the aim was to modernize and improve production in the coal and metallurgical industries and address employment issues in those sectors.

"It was also an important platform for effective dialogue, serving as the foundation for the formation of the European Union. It is no coincidence that, thanks to this, the probability of war between France and Germany was neutralized, and integration processes began.

 ADB hopes that the Crossroads of Peace initiative will have the same impact in this region and that close ties will be established between all countries," said Lambert.