Minister of Economy and Head of World Bank's Yerevan Office Engage in Discussions on Digitalization of Armenia's Agricultural Sector

YEREVAN, September 23. /ARКА/. The digitalization initiative for Armenia's agricultural sector, as part of the Competitive and Sustainable Agriculture (CARA) Program, was the focus of discussions between Gevorg Papoyan, Minister of Economy, and Fabrizio Zarcone, the newly appointed World Bank Country Manager for Armenia.

As reported by the press service of the Ministry of Economy, the meeting held yesterday included a presentation of the program's key components, which are being implemented with the support of the World Bank, along with its priority activities and timeline.

The CARA program is designed to enhance agricultural productivity in Armenia by facilitating access to technology and investment, as well as fostering the development of climate-resilient agricultural systems.

Additionally, the program seeks to promote the economic sustainability of the agricultural sector by encouraging the efficient use of resources and the creation of new economic opportunities.

Overview of World Bank Initiatives in Armenia

Since commencing its operations in Armenia in 1992, the World Bank has allocated approximately $2.7 billion in funding to the country through the International Development Association (IDA, of which Armenia became a donor in 2023), the International Bank for Reconstruction and Development (IBRD), and various trust funds. At present, the World Bank is financing 10 projects in Armenia, amounting to a total of $500 million.-0-