EBRD holds its 2024 Annual Meeting and Business Forum in Armenia

Political 10 May, 2024 16:56

The European Bank for Reconstruction and Development (EBRD) will be hosting its 33rd Annual Meeting and Business Forum in Yerevan, Armenia next week under the banner of “Delivering Impact Together”.

The event will be the largest of its kind ever held in Armenia and the choice of location demonstrates the EBRD’s ongoing support for the country and the Caucasus region.

The three-day meeting, which opens on Tuesday 14 May, will bring together government officials, financial and corporate executives, entrepreneurs, civil society and media from across the regions served by the EBRD.

Armenia’s Prime Minister Nikol Pashinyan is expected to address the Board of Governors’ opening session at Yerevan’s Opera House on Wednesday 15 May. The Vice Chair of the Board of Governors, Gintarė Skaistė, Minister of Finance of Lithuania, and EBRD President Odile Renaud-Basso will make opening speeches.

The Governors will elect a President to lead the Bank for the next four years on Thursday 16 May. Ms Renaud-Basso was first elected to the post at the Bank’s 2020 Annual Meeting and her current term is coming to an end.

Ms Renaud-Basso is the only candidate to have been nominated for the role this year. To secure election, candidates need a double majority of votes – that is, from both the total number of Governors and members’ total voting power.

Governors will also begin considering the Bank’s next “roadmap” – the Strategic and Capital Framework, which will set out its priorities for the period 2026-30.

A wide range of topics will be discussed at the Business Forum, such as the importance of regional connectivity and value chains; fintech, artificial intelligence and cybersecurity; energy security and renewables; the challenges caused by the war on Ukraine; digitalisation in emerging markets; and financial inclusion.

Those unable to travel to Yerevan next week to take part in the event will be able to follow most of the events live online.

Guest speakers on the panels include: Noubar Afeyan, the co-founder of Moderna; Thierry Deau, CEO of Meridiam; Martin Wolf from the Financial Times; Rania Al-Mashat, Egypt’s Minister of International Cooperation; Marie Lou Papazian, CEO of Tumo; political scientist Melanie Garson; professor and historian Harold James; and Alexia Latortue, Assistant Secretary for International Trade and Development at the US Treasury.

On 15 May the Bank will also release its Regional Economic Prospects report showcasing its latest macroeconomic forecasts for its regions.

One of the highlights of the Business Forum will be Armenia’s Investment Outlook session on the same day. Over the last five years, the EBRD has invested €640 million in the country, supporting private sector development, infrastructure improvements, renewable energy generation and rural digitalisation.

To date, the EBRD has invested over €2.1 billion in 210 projects across Armenia.