Armenia

USAID Economic Foundations for a Resilient Armenia

Overview

USAID is investing in innovative, sustainable and scalable solutions to strengthen Armenia’s economic resilience, and promote competitiveness and economic governance through close collaboration with the public and private sectors. USAID Economic Foundations for a Resilient Armenia is a five-year (2023-2028), $24.5 million budget activity focusing on delivering technical assistance to the government and supporting the private sector and associations in the key areas of agriculture, tourism and high-tech industries.

Approach

1. Institutional and human capacity: USAID Economic Foundations supports the Government of Armenia to deliver effective economic stewardship through improved institutional and human capacity and support the implementation of the Government’s 2021-2026 action plan. The Activity also aims to assist the Government in drafting key legal documents on export, entrepreneurship, investment and the targeted sectors.
2. Export competitiveness: USAID Economic Foundations works with industry associations and anchor firms in tourism, high-tech and agriculture to help businesses increase sales, access high-value markets and improve competitiveness through enhanced quality of products, service delivery and export diversification. To promote sector competitiveness, USAID Economic Foundations supports industry organizations and other private collaborative entities to build their organizational capacity and improve and expand member services.
3. Catalytic sectoral investments: To increase the availability and productive use of financial capital and promote catalytic sectoral investments, the Activity is developing an Investment Mobilization Platform, building a working network of investors, financial service providers, businesses and government partners.
4. Response to economic shocks and opportunities: USAID Economic Foundations assists Armenia to take advantage of periods of economic growth and navigate economic downturns.