PRESIDENT SERZH SARGSYAN RECEIVED THE VICE PRESIDENT OF THE ASIAN DEVELOPMENT BANK XIAOYU ZHAO

president.am
july 24 2009
Armenia

Today, the President of Armenia Serzh Sargsyan received the Vice
President of the Asian Development Bank Xiaoyu Zhao and his delegation.

The President of Armenia noted with satisfaction growing cooperation
with the Asian Development Bank.

President Sargsyan praised rapid response of the Bank and its interest
toward a major transportation projects such as the North-South highway
and the North-South railroad, as well as transportation development
programs for Yerevan.

He also expressed gratitude for the 80mln USD assistance provided by
the Bank to the government of Armenia to mitigate the consequences
of the global financial and economic crisis and implementation of
the envisaged programs.

The Vice President of the ADB, Xiaoyu Zhao said that the Bank is
interested in the development of a long-term partnership with Armenia.

Hailing established cooperation between the ADB and the government
of Armenia, he said that he had observed the implementation of the
joint projects on the reconstruction of rural roads, water supply
and drainage systems and was impressed with their progress.

The Vice President also assured that the ADB is ready to continue
its assistance to Armenia to overcome the repercussions of the global
economic crisis.

Stressing the importance of implementing long-term infrastructure
programs, the two sides agreed that they serve as a serious impetus for
the development of the country. They also mentioned that implementation
of joint programs in the private sector might be promising.

President Sargsyan said that our cooperation with the international
financial structures is significant not only from the viewpoint
of attracting funds but also for important experience and business
culture that they bring along to Armenia.