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Deputy Minister of Economy of Armenia Anushik Avetyan met with Vice President of the Asian Infrastructure Investment Bank (AIIB) Konstantin Limitovskiy, the ministry said.
During the meeting, possible areas of cooperation, as well as joint programs for infrastructure development, were discussed. The Deputy Minister presented the priorities of the Armenian Government and the Ministry of Economy, strategic development directions and major ongoing infrastructure projects.
She touched upon construction projects of social significance, emphasizing that Armenia's membership in the AIIB will create new platforms for participation in major international and regional investment programs.
Deputy Minister Avetyan emphasized the importance of the AIIB’s financing of private sector programs, noting that it could be a significant stimulus for increasing economic activity, improving the investment climate and ensuring the country’s sustainable socio-economic development, as well as contributing to reducing the burden on the state budget and foreign debt.
The meeting also touched upon Armenia’s "Crossroads of Peace" project. The parties noted that the partnership between the AIIB and Armenia could create new opportunities for regional integration, implementation of joint programs in the public and private sectors, and the deepening of investment cooperation.
An agreement was reached to outline the main frameworks of cooperation in order to identify the areas where the AIIB, within the framework of its mandate or in cooperation with other international donor organizations, could participate in the development and implementation of programs.