In a conversation with BMG, Narine Avetisyan, Senior Private Sector Development Officer, ADB Armenia emphasized the significance of private sector development as one of the keypriorities for theorganization, including in Armenia.
Since 2005 ADB has been supporting the private sector in Armenia with a significant expansion activities since 2017reaching a portfolio of over $500 million. According to the Narine Avetisyan, the bank's private sector portfolio in Armenia primarily focuses on financial institutions, agribusiness, and infrastructure projects, with the latter encompassing key areas such as energy, transport, construction, logistics, and telecommunications.
"In all our transactions, development impact remains the key focus for us. Before engaging with any company, we ensure their commitment to development outcomes, which might include improving internal business processes, corporate governance, financial literacy, environmental and social priorities or market access. Similarly, through private sector projects we aim to maximize the impact for the country and its citizens" Narine Avetisyan explained.
For companies not yet ready to collaborate because of their size, letracy or other, ADB provides guidance and in-kind support to outline the necessary steps for eligibility. Technical assistance tools are also available to help businesses improve operations, address sector-specific challenges, and prepare for partnerships with ADB and other development institutions. These efforts contribute to broader economic development in Armenia.
Looking ahead, ADB plans to expand its engagement in Armenia beyond its current focus areas. In addition to financial institutions, infrastructure, and agribusiness, the bank aims to explore private sector initiatives in healthcare and education, marking an important step toward fostering growth in Armenia's social sectors.
"Our goal is not only to finance projects but also to empower private sector players to achieve long-term, sustainable development targets that benefits the broader economy," Narine Avetisyan concluded.
