YEREVAN, OCTOBER 20, ARMENPRESS. President of the Republic of Armenia Serzh Sargsyan received the newly appointed World Bank's Vice President for Europe and Central Asia Cyril Muller on October 20. Newly appointed World Bank Regional Director for the South Caucasus Mercy Tembon was also present at the meeting. The President congratulated them on assuming the responsible posts and wished productive work.

As “Armenpress” was informed from the Department of Information and Mass Media of the Republic of Armenia President’s Staff, the President highly appreciated World Bank’s years’ long cooperation with Armenia and highlighted its contribution in Armenia’s social-economic development, emphasizing that the World Bank has been regarded by Armenia not only as a funder of investment projects but also as a partner in conducting economic reforms and human resources. Serzh Sargsyan hoped that the cooperation will be preserved and reinforced and the partnership will activate further. The President assured that Republic of Armenia Government is determined to continue the implementation of reforms aimed to improve economic environment in Armenia.

According to WB Vice President Cyril Muller, the World Bank had already planed a number of projects last year, the implementation of which will cost nearly $700 million. Those projects, according to him, will have a significant contribution in the development of Armenia.

The interlocutors discussed the implementation process of WB partnership strategy on Armenia, touched upon Armenia’s economic priorities, as well as conditions required for mid-term sustainable development.