The World Bank Group to Support Job Creation and Resilience in Armenia

On January 21, the Executive Directors of the World Bank Group approved a new five-year Country Partnership Framework (CPF) for Armenia.

This framework aims to reduce poverty and promote shared prosperity across the country by creating better employment opportunities, improving human capital outcomes, and strengthening resilience.

Armenia has made significant development progress in recent years. However, infrastructure gaps, low levels of domestic and foreign investment, and a high unemployment rate remain major challenges to growth. Uneven outcomes in the education and healthcare sectors limit the employability and productivity of the population. The social protection system requires reforms to better target and support vulnerable populations during times of crisis. Armenia also faces significant earthquake risks and is becoming increasingly vulnerable to the impacts of climate change.

The new strategy emphasizes the need to strengthen resilience to economic shocks, fragility and conflict, natural disasters, and climate change. The proposed CPF will help Armenia achieve the following objectives:

– More and better jobs by creating more favorable conditions for private sector growth and reducing skills gaps in the workforce.
– Stronger human capital by improving access to quality healthcare and strengthening social protection.
– A resilient economy by promoting climate-adaptive economic activities and strengthening government and institutional systems, including public financial management, strategic planning, and public administration reform.

https://www.1lurer.am/en/2025/01/22/World-Bank-Group-to-support-job-creation-and-resilience-in-Armenia/1253302