Armenia

AFD has been present since 2012 in Armenia, where it has determined four priority fields for action: improving city dwellers' quality of life, supporting the rural world and agribusiness, developing renewable energies, and consolidating the private sector.
Sevan monastery, Armenia
AFD AND ARMENIA: PROMOTING GREEN AND INCLUSIVE GROWTH
Sevan monastery, Armenia

4 PRIORITY SECTORS

The City of Yerevan in Armenia

4 PRIORITY SECTORS

AFD has determined four priorities along with the Armenian government: urban development, rural development and support for agribusiness, clean and renewable energies, and development of the private sector.

In 2013, AFD's first intervention in Armenia was the financing of a project to renovate and improve the energy efficiency of the housing for disadvantaged households. In 2015, AFD supported an irrigation project in the Ararat plain. And since 2016 AFD has been providing guidance for reforms in public policies of a fiscal, economic, social, and environmental nature.

STRENGTHENING AFD'S ACTION IN THE SOUTH CAUCASUS

City limits of Tbilisi, Georgia

STRENGTHENING AFD'S ACTION IN THE SOUTH CAUCASUS

AFD recently started working in the South Caucasus, a region made up of Georgia, Armenia, and Azerbaijan. It was formally authorized to work there only in 2012, as part of a mandate to promote "green and inclusive growth."

It has taken only five years since the beginning of AFD's action in the region for its partnerships with the Governments, local authorities, and public enterprises to bear fruit. Four projects, totaling 250 million euros, have been started up since 2012.

In 2017, the creation of an office in Georgia has helped give concrete shape to AFD's desire to strengthen its action in the region. The Tbilisi office for the South Caucasus was officially inaugurated in March 2017 by Georgia's first Vice Prime Minister and Minister of Finance. The office covers the three countries of the region.
 

6
years of presence in Armenia
125
million euros of loans since 2013
12.5
million euros of grants since 2013

Armenia is a small country of 3 million inhabitants in the South Caucasus. It has had to deal with many economic and social challenges since its independence in 1991. After a rapid growth phase in the early 2000s, Armenia's expansion was curbed by the economic recession in its main trade and financial partner, Russia. The closing of borders with its neighboring countries Azerbaijan and Turkey have exacerbated its economic difficulties.

Against this backdrop, the Armenian Government has undertaken to implement a plan of reforms to tackle the structural weaknesses of the country. With the support of international donors, it is taking up great challenges: fighting poverty, improving agricultural productivity, supporting energy independence and the fight against climate change, modernizing infrastructures, and optimizing the business climate.

AFD has been working in Armenia since 2012, according to a "green and inclusive growth" mandate. It is supporting the reforms of the Armenian Government via loans and European grants within the framework of the Neighbourhood Investment Facility - East.
 

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