On April 25, the Minister of Economy of the Republic of Armenia Gevorg Papoyan met with high-level representatives of the World Bank, including the head of the Armenian office, Karolin Geghynat, senior specialist in disaster risk management Tafadzwa Dube and urban development specialist Nora Mirzoyan.
According to the press service of the Ministry of Economy, the meeting discussed the details, scope of actions, components, and priority steps of the "Local Economic and Infrastructure Development Program" proposed by the World Bank. The main focus was on exploring opportunities to expand cooperation between Armenia and the World Bank.
The World Bank (WB) is one of the largest creditors of the Republic of Armenia.
In 2023, Armenia approved an agreement with the World Bank to attract a loan of €92.3 million to replenish the budget. The loan is tied to reforms in environmental and anti-corruption policies, as well as human resource development.
