OREANDA-NEWS  On 04 December was announced, that Government of RA and Asian Development Bank signed an agreement. The agreement was signed by Mr. Haruhiko Kuroda, the President of the Asian Development Bank (ADB) and Mr. Nerses Yeritsyan, the Minister of Economy of RA.

According to the new loan agreement the Bank will provide supplementary 17 million US dollars. In Accordance with Yeritsyan words this funds will be directed into two projects- improvement of rural roads in 5 marzes located in the field of Ararat and upgrade of the town water supply system in Vayots Dzor.

The opening ceremony of ADB’s office in Yerevan (Bank’s 27th branch) and the Press Conference of RA Prime Minister Mr. Tigran Sargsyan and the President of Asian Development Bank Mr. Haruhiko Kuroda took place on the same day.

Wհile in Armenia Mr. Kuroda had meetings with the Armenian President Mr. Serzh Sargsyan, Prime Minister Mr. Tigran Sargsyan and the Catholicos of All Armenians Garegin B.

Since Armenia jointed ADB in 2005, the Bank has financed two projects- a rural roads program and the upgrading of town water supply system. The Asian Development Bank is a multilateral development bank, owned by 67 member countries. The ADB’s main instruments for development of its member countries are policy dialogue, loans, equity investments, guarantees, grants and technical assistance. In 2008 adopted strategy 2020, a long term strategic framework that follows three complementary strategic agendas: inclusive growth, environmentally sustainable growth, and regional integration.