The World Bank Reaffirms its Commitment to Strengthening Relations with Armenia
On September 6, 2021, Minister of Economy Vahan Qerobyan met with World Bank Regional Director for South Caucasus, Sebastian Molineus, and newly appointed Country Manager of the World Bank in Armenia, Carolin Geginat.
Vahan Qerobyan noted that the World Bank has long-term experience in implementing reforms in various spheres of agriculture, more specifically in water and soil usage, so it can contribute to organizing these processes as smoothly as possible by providing consulting services.
The development of the SME sector, as well as the digitalization of the economy, were also considered as perspective directions of cooperation.
According to Carolin Geginat, the World Bank is ready to assist the Armenian government in the implementation of reforms not only financially but also through providing consulting services and sharing international best practices.
The Country Manager further noted that the World Bank had carried out large-scale research of the labor market of Armenia singling out the existing issues. Effective solutions to these problems will be discussed in a separate meeting.
As stated by Sebastian Molineus, the World Bank will cooperate with the government of Armenia by improving the investment environment, making financial resources available, and achieving reforms in the tax system. There will be short-term and long-term projects in these directions.
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