Program
USAID Economic Foundations for a Resilient Armenia
Armenia
Overview
USAID Economic Foundations for a Resilient Armenia was a two-year (2023-2025), $24.5 million activity focused on delivering technical assistance to the Government of Armenia and supporting the private sector and associations in the agriculture, tourism, and high-tech industries. Through close collaboration with the public and private sectors, USAID investments promoted innovative and scalable solutions to strengthen Armenia’s economy and promote competitiveness and economic governance.
Impact
- 34 enterprises with increased sales
- 4 industry organizations with improved institutional capacity
- 11 legal instruments drafted or proposed
- Investment landscape analysis completed
- Government of Armenia Export Strategic Program and Action Plan developed
Approach
Collaboration, flexibility, and scalability were central components of the Activity. The following approaches were incorporated to address barriers to growth and stimulate long-term socio-economic development:
- Institutional and Human Capacity: USAID Economic Foundations supported the Government of Armenia to deliver effective economic stewardship through improved institutional and human capacity and support for the implementation of the Government’s 2021-2026 action plan. The Activity also assisted the Government in drafting key legal documents on export, entrepreneurship, investment, and the targeted sectors.
- Export Competitiveness: USAID Economic Foundations worked 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 exports. To promote sector competitiveness, USAID Economic Foundations supported industry organizations and other private collaborative entities to build their organizational capacity and improve and expand member services.
- Catalytic Sectoral Investments: To increase the availability and productive use of financial capital and promote catalytic sectoral investments, the Activity developed an Investment Mobilization Platform, building a working network of investors, financial service providers, businesses, and government partners.
- Response to Economic Shocks and Opportunities: USAID Economic Foundations assisted Armenia to take advantage of periods of economic growth and navigate economic downturns.
