More than 225,000 people in Armenia are engaged in agriculture. However, the effects of climate change, including water scarcity, droughts, and hailstorms, pose serious challenges to the sector.

To address these issues, the Asian Development Bank (ADB) and the Ministry of Economy of Armenia organized a panel discussion with the participation of financial institutions, farmers, and experts, aiming to identify effective solutions for overcoming climate-related risks.

One of the key directions for achieving climate resilience in Armenia is the development of intensive horticulture. With the support of Acba bank, around 1,244 hectares of intensive orchards have been planted across the country in recent years. Modern irrigation systems and hail protection nets have been introduced, with the bank investing around AMD 18 billion in this area over the past five years.

“We attach great importance to all programs aimed at adapting agriculture to climate change. In this regard, hail protection nets, drip irrigation systems, and farm ponds that feed those systems have become indispensable. We always advise our clients that such investments are essential and worthwhile.

A few years ago, before launching these programs, we set ourselves a goal - to make agriculture a business attractive not only for rural residents but also for city dwellers who want to engage in farming in the regions,” said Arsen Melkonyan, Deputy CEO and Director of Retail Business at Acba bank.

“We are having ongoing discussions about ensuring water supply and servicing cultivated lands. Unless everyone adopts water-saving technologies, even farmers who have never faced water shortages before will face challenges - and we will all fail collectively,” noted Arman Khojoyan, Deputy Minister of Economy of Armenia.

“We are witnessing the consequences of climate change in Armenia, which brings significant risks. At the same time, the increasing demand for water, both for environmental and drinking purposes, affects how the country must manage its resources.

Yet, Armenia has tremendous potential to become one of the largest agricultural producers in the region. Armenian peaches and apricots are exceptionally delicious, and the country has the potential to turn them into internationally recognized brands.

The Asian Development Bank stands ready to provide its support to help such products achieve global branding and recognition,” said Yasmin Siddiq, Director of Agriculture, Food, Nature, and Rural Development at the Asian Development Bank.

Watch the video for more details.