International programs implemented in cooperation with international partners not only provide financial contributions, but also carry significant educational value. These initiatives play a crucial role in implementing institutional reforms and adopting international best practices in our country, particularly in the areas of budgetary processes, public administration, and justice.

One noteworthy program signed in 2023 with a major international foundation has a substantial budget of $171.1 million USD. The program is set to encompass several initiatives focused on managing international finance, improving governance, and promoting accountability.

Additionally, a partnership agreement was reached in the same year with an international bank for the implementation of development projects spanning from 2024 to 2028. This program will encompass various initiatives centered around global finance management, enhancing administrative leadership, and developing electronic management systems.

Furthermore, the country has signed agreements with the European Bank for Reconstruction and Development (EBRD) to undertake projects related to climate change and sustainable development. These agreements are valued at €92.3 million and include initiatives to improve general investment management and implement government services provided by the Ministry of Economic Development and Investments.

Cooperation agreements have also been signed with the Asian Development Bank for the military development of Armenian banks between 2024 and 2028.

During a press conference, Mikael Grigoryan, the Minister of Finance, announced that agreements worth €66.1 million have been signed with the European Investment Bank. These agreements cover various sectors, including finance, social and economic development, and other cooperation initiatives.

In addition, several agreements have been reached with the European Investment Bank and other partners for urban development projects in Yerevan. With a budget of approximately €60 million, these projects aim to improve urban infrastructures, such as constructing a new highway connecting Isakov Avenue and Arshakunyats Avenue. The implementation of these projects will create new urban developments along the Hrazdan River and in other regions.

The Minister also revealed that agreements were signed with the European Union in 2023 for climate change-related projects. This initiative is supported by a budget exceeding €47.5 billion, or 5 million USD.

The Minister expressed his optimism that the successful implementation of the 2023 budget and the approved 2024 budget will further enhance the country’s international reputation and strengthen our friendly partnerships with international allies. News.am, a reputable news outlet in Armenia, reported this news.