YEREVAN, NOVEMBER 7, ARMENPRESS. President of Armenia Serzh Sargsyan held a meeting on November 7 with Wencai Zhang, Vice President of Asian Development Bank (ADB), the President’s Office told ARMENPRESS.

During the meeting the President highly appreciated ADB’s mission and role in the economic development of Armenia, and stressed that during the 12 years of cooperation with the bank which has become a stable partner for the country, numerous programs have been implemented in Armenia, which included both public and private sectors. President Sargsyan expressed hope that the effective cooperation will continue.

At the beginning of the meeting, the ADB Vice President warmly recalled his meeting with the Armenian President in New York as part of the investment forum, and noted that the cooperation between the bank and Armenia recorded noticeable progress.

Wencai Zhang mentioned the nearly three dozen major programs which were implemented in several important sectors in the Armenian economy, which were aimed at the development of Armenia’s infrastructures, reforms, raising the quality of public administration, contributing to the state-private sector partnership, and had impact in the economic development of the country.

The bank’s Vice President said that currently the ADB is working on designing the 2019-2023 Armenia Partnership Strategy, which will include both mid-term and long-term development programs. In this context, Wencai Zhang asked the President which priorities of the Armenian economy can be placed at the basis of the new strategy and become cooperation programs for upcoming years.

Wencai Zhang stressed that the ADB is ready to assist Armenia not only in implementing international projects, but also in works contributing to regional cooperation.

The Armenian President requested the ADB Vice President to focus on especially programs of infrastructure development in the new strategy, since in his conviction, these programs will significantly contribute to increasing the economy’s competitiveness.

In the President’s opinion, without developed infrastructures it is impossible to have competitive economy.

As another priority for Armenia, President Sargsyan mentioned the consistent continuation of reforms in directions such as improvements of social, financial and business environments, reforms of urban transportation, digitization of the economy and others.

The ADB Vice President reassured that the bank will continue assisting programs of key importance for the economic development of Armenia, including digitization of the economy.