Կենտրոնական բանկ

On 29 September, the results of the “Climate Risk Maps for Armenia” project, implemented with the support of the Asian Development Bank (ADB), were presented at the Central Bank of Armenia. The project aims to establish a consistent, data-driven, and practical framework for assessing physical climate risks in Armenia.

Opening remarks were delivered by Lyaziza Sabyrova, Country Director, Armenia Resident Mission, Asian Development Bank, and Artak Manukyan, Member of the Board of the Central Bank of Armenia.

Artak Manukyan noted that climate-related risks are increasingly translating into economic risks. They are no longer abstract; rather, their various manifestations are already becoming visible in the country’s economy and can increasingly be measured through concrete indicators.

According to him, the presented map makes it possible to use the available data not only for lending decisions, but also in the design of preventive, social, and financial programs. He also emphasized that public authorities can integrate these data into their decision-making processes to better assess and mitigate future risks.

“Climate risks are having a significant impact on the economy and the financial system. This tool will help better assess these risks and support decision-making based on clear and reliable data. ADB will continue to support Armenia in strengthening the resilience of the financial system and enhancing its capacity to respond effectively to climate risks,” said Lyaziza Sabyrova, Country Director, Armenia Resident Mission, Asian Development Bank.

The maps enable the assessment of the impact of climate-related hazards across different settlements and geographic areas, providing an information base for risk management, national and territorial planning, investment decision-making, and strengthening climate resilience.

The key results of the project were presented by Ashot Petrosyan, Head of the Financial System Center at the Central Bank of Armenia, and Marine Nikoghosyan, representative of the Asian Development Bank. The methodology used to develop the maps, as well as the underlying data and sources, were also presented.

“This tool, developed with technical assistance from the Asian Development Bank (ADB), brings together data on climate and water-related risks on a single platform, helping to better assess risks and make more informed decisions,” said Marine Nikoghosyan, Program Officer at the ADB Resident Mission Armenia.

The event concluded with an open discussion involving representatives of government institutions, the financial sector, international organizations, and the media.