OREANDA-NEWS  On 01 December was announced, that RA Ministry of Economy held the conference on programs developing by World Bank’s support in Armenia. The conference was led by Nerses Yeritsyan, the Minister of Economy of RA. The World Bank delegation was led by the Head of the WB Yerevan office Aristomene Varudakis, WB leading economist Saumia Mitra, and Country Sector Coordinator Finance and Private Sectors Europe and Central Asia Region Michael Edwards.

The Deputy Minister of Economy Mushegh Tumasyan, the SME Development National Center's director Ishkhan Karapetyan and heads of appropriate departments of the Ministry of Economy took part at the conference.

The main issues of the agenda were – discussion on possibilities for additional support for SME’s and targeting of key priorities within the framework of Country Partnership Strategy (CPS) program.

At the beginning of the discussions Mr. Minister presented the expectations of the Armenian party regarding the budget of World Bank supporting mechanisms and programs. Nerses Yeritsyan stressed three strategic directions: energy and infrastructures, business environment and governance. Mr. Minister focused his attention on next key programs:

• Energy efficiency and renewable energy

• Road construction (including the villages)

• Electronic society and innovation

• Education

• Public financial management, corporate accountancy and audit

• Competitive agriculture

During the conference the WB delegation members presented the possible tools and instruments of the assistance and the mechanisms and sources of financing of mentioned high above programs(International Development Association (IDA) and International Bank of Reconstruction and Development (IBRD)).

At the end of the conference the parties discussed a number of topical issues, mainly the possible influence of the world financial crisis on foreign investments in Armenia and macroeconomic stability of the country.