"We attach great importance to our close cooperation with the World Bank and are glad that through joint efforts it is continuous and has a tendency of development," said Prime Minister of Armenia Karen Karapetyan on the occasion of the 25th anniversary of partnership between Armenia and the World Bank.

According to the Prime Minister, the World Bank is one of the key partners for Armenia and successfully cooperates with all sectors of the economy.

Karen Karapetyan noted that during these 25 years with the support of WB numerous programs aimed at the formation of social and economic development of Armenia and modern institutes have been implemented. "The tools provided by the World Bank Group have helped provide economic growth, development, and progress. Since 2014, we have embarked on a new development period, transitioning from the International Development Agency's programs to the programs of the International Bank for Reconstruction and Development, "the Prime Minister said.

According to him, at present the Armenian Government has initiated and implements a systematic program aimed at radical reforms and modernization of our economy. "I want to mention at the moment that the government's program has been appreciated by our partners, which is very important for us. This program requires mobilization of available resources, enhancing their efficiency and closer cooperation with our key partners. I am glad that the main goals of the Government and the World Bank are in line with that, "the Prime Minister emphasized.

Karen Karapetyan said that the ultimate goal of the future government is to have an independent, safe, just and smart Armenia. "Creation of such a future Armenia should become a key pillar of cooperation between Armenia and the Bank. WB's extensive experience and knowledge base will assist the Government in effective, intelligent use of resources and increase competitiveness to ensure decades of progressive development. "

The Prime Minister said that WB has initiated 95 programs over 25 years, the total financial flow of which amounted to $ 2.3 billion. At present, the bank's loan portfolio is around US $ 620 million.

Karen Karapetyan noted that in the conditions of the global economy, modern competitive economy and effective public administration are necessary for the development and overcoming the existing challenges. According to him, in the future only those economic systems can succeed which will modify the model of economic growth in time and ensure progressive, sustainable, long-term economic growth.

"To build our future, to ensure our security, we need to have an advanced, competitive and innovative economy. This 21st century economy should develop thanks to dynamic digitalization, adapting to the environment all the time. It will be possible only if there is a modern, globally competitive, high-skilled, motivated workforce. The future of Armenia should be based on the school and be continuous, "said the Prime Minister.

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