The OPEC Fund for International Development (OFID) has supported the Green, Inclusive and Sustainable Development programme in Armenia with a pound 50 million loan through its programme lending instrument.
This programme aims to support the government’s developmental efforts to foster climate change mitigation and adaptation, improve environmental management and energy efficiency, enhance equity, promote human capital development and strengthen governance.
The programme was developed with the World Bank, which has provided a parallel loan of pound 92.3 million (US$100 million equivalent) for its implementation.
OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said, “We are pleased to partner with the government of Armenia and the World Bank to support this ambitious programme, investing in human capital development and improving climate change resilience. The programme will support Armenia’s long-term development ambitions and national plans, while helping it to achieve multiple Sustainable Development
Goals.”
Armenia’s Green Inclusive and Sustainable Development Programme aligns with the government’s five-year development plan (2021-2026). It includes fundamental steps such as reforming the public investment management framework, reviewing the justice system and relevant environmental legislation, overhauling the social assistance system, and modernising the national curriculum to strengthen science, technology, engineering, and mathematics (STEM).
Source: Emirates News Agency