News - Asian Development Bank presents its 2023 key activities, achievements in Armenia

The Asian Development Bank (ADB) has presented its key activities and achievements in Armenia in the year past. The respective ADB statement reads as follows: “The Asian Development Bank (ADB) has been in partnership with Armenia since 2005 and remains one of the country’s largest multilateral development partners. In 2023, ADB continued to carry out major programs and projects, which included infrastructure developments and technical support initiatives, comprising both ongoing endeavors and new initiatives. Key accomplishments include the completion of the M6 Vanadzor-Bagratashen section of the Armenia-Georgia border road and the completion of vital urban road infrastructure in Yerevan under the Sustainable Urban Development Investment Program (SUDIP) which includes the construction of 23 km of urban road links and urban walkways for increased road safety.  During 2023 under the Seismic Safety Improvement Program (SSIP), construction of nine schools was completed, design of ten schools is in process and construction of twenty schools is underway, aligning with international seismic safety norms. In November 2023, the Yerevan Urban Development Investment Project (YUDIP) Loan agreement was signed between ADB and Republic of Armenia. The $65.17 million loan aims to improve the urban environment, enhance the road network, and promote climate-resilient infrastructure in Armenia's capital city Yerevan. The project aligns with the goals of the Paris Agreement, will boost river crossing capacity by 40%, and will reduce travel distances between the major roads of Isakov and Arshakunyats Avenues by more than 2 km, saving commuters on average 12 minutes in travel time. During 2023, ADB approved another €66.1 (equivalent to $72.3 million) million loan as additional financing to support the Government of Armenia in building earthquake-resilient schools and strengthening its capacity for seismic disaster risk management. Last year, with the joint efforts of ADB and the Ministry of Justice, the inaugural "International Arbitration Forum" was launched in Armenia. Marking International Women's Day in 2023, ADB and the RA Government organized a "Disaster Risk Management" conference titled "For All and by All," where participants shared gender integration experiences and discussed future plans. Throughout the year, high-level visits and meetings took place between delegations from ADB and the Government of Armenia, including RA President, Prime Minister, Deputy Prime Ministers, Minister of Finance/ADB Governor, and other partner Ministers. These meetings aimed to expand cooperation, assess program effectiveness, and support RA's implemented reforms. The visit of ADB President Masatsugu Asakawa to Armenia further confirmed the bank’s commitment to Armenia’s development agenda. As a knowledge-oriented bank, ADB conducted numerous courses, workshops, and training session for the Ministries of Finance, Education and Science, Health, Justice, Territorial Administration and Infrastructure, Economy, Yerevan Municipality, and Cadaster Committee. The capacity building programs covered diverse topics, including climate change, disaster risk management, road safety, seismic safety norms, health and safety, and a round-table discussion on the evaluation of information and communication technologies. Collaborating with the Government of the Republic of Armenia, ADB is actively contributing to the development of the Government’s priorities.”