During his recent visit to Washington, Armenian Prime Minister Hovik Abrahamyan met with International Finance Corporation (IFC) CEO Jin-Yong Cai.

During the meeting, Abrahamyan stressed the need for continued cooperation and cited the large role the IFC played in developing the Armenian economy. More than $320 million in investment projects have been implemented in the country over the past 15 years, largely in financial, manufacturing and mining industry sectors.

“Our country has carried out serious institutional and regulatory reforms to improve the business and investment environment, including with the IFCs support,” Abrahamyan said.

In speaking with Cai, the prime minister promised that his administration would keep its commitment of cooperation with IFC. Increased involvement of the World Bank and IFC toward Armenia is incredibly important, the prime minister said.

Cai noted the effectiveness of Armenian reform and promised to continue support in various government projects.