On November 19, Armenia's Minister of Economy, Gevorg Papoyan, met with representatives of the World Bank (WB), led by the head of the WB Armenia Office, Carolin Geginat.
The delegation also included Cécile Niang, Manager for Finance, Competitiveness, and Innovation for the Europe and Central Asia Region, and Tugba Gurkanlar, Senior Private Sector Specialist.
The meeting, which was attended by Deputy Ministers Narek Hovakimyan and Edgar Zakaryan, focused on Armenia's economic prospects and strategies for enhancing the competitiveness of the private sector.
Special emphasis was placed on entrepreneurship development, support for small and medium-sized enterprises (SMEs), and the adoption of innovations and digitalization.
Minister Papoyan provided an overview of the current state of the Armenian economy and outlined government initiatives aimed at expanding the private sector and developing an export strategy.
BMG reminds that since its inception in Armenia in 1992, the World Bank has allocated approximately $2.7 billion for various projects. In 2023, Armenia also became a donor to the International Development Association.
