ADB President, Prime Minister of Armenia Discuss COVID-19 and Ongoing Partnership

By India Education Diary Bureau Admin On Aug 20, 2020

Asian Development Bank (ADB) President Masatsugu Asakawa and Prime Minister of Armenia Nikol Pashinyan today discussed the impact of the coronavirus disease (COVID-19) pandemic in Armenia and ADB’s operations in the country.

“COVID-19 has hit all countries including Armenia and continues to pose an unprecedented health and economic challenge,” said Mr. Asakawa. “ADB remains fully committed to supporting Armenia in these challenging times and stands ready to provide financial assistance and policy advice as needed.”

Mr. Asakawa commended the government’s swift actions to strengthen the country’s health system, increase preparedness to cope with rising cases of COVID-19, and manage the impact on the economy. This includes economic and social stimulus packages aimed at supporting affected businesses, expanding unemployment benefits, and social protection to vulnerable groups.

Mr. Asakawa and Mr. Pashinyan discussed ADB’s ongoing support for Armenia including projects in health, education, energy, transport, urban development, and disaster risk reduction. They also discussed stepping up private sector engagement in the country in priority areas such as infrastructure and social sectors.

Mr. Pashinyan expressed his appreciation for ADB’s ongoing support to Armenia.

On 3 August, ADB approved a $2 million grant for Armenia from its Asia Pacific Disaster Response Fund to procure critical personal protective equipment and medical supplies for the country. This builds on $500,000 previously provided for the purchase of medical equipment and supplies. This month, ADB also approved a grant-financed $750,000 technical assistance project to help develop a distance learning platform in Armenia. This will help ensure quality and continuous education during times of emergency and normal situations.

On 1 June, ADB signed a $20 million loan with Electric Networks of Armenia Closed Joint-Stock Company for a working capital support facility to ensure energy supply as the country manages the impact of COVID-19.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.