What we do

The Joint Project "Making Finance Work for Transformative Change in Armenia: Unlocking Finance for Armenia 2030" project is led by UNDP and implemented with UNICEF and WFP in coordination of UNRCO Armenia.

The project is developed to:

·       support the Government of Armenia (GoA) in creating clear links between policies, planning and budgeting processes;

·       deploy innovative and evidence-driven mechanisms to establish partnerships and direct multiple sources of finance towards three priority areas in Armenia - climate change, food security and human capital.

To equally distribute the existing funds, the project addresses the local needs and gaps, generation of resources in line with the project vision, investments in the above-mentioned priority sectors, thus promoting sustainable development across all dimensions of the Agenda 2030. 

Project objective

The main objective of the project is to support the Government of Armenia to design and implement a comprehensive and efficient infrastructure for financing the country's development goals in the context of Sustainable Development Goals (SDGs). It will contribute to the more efficient usage of existing financial resources and to the mobilization of additional finances for achieving national sustainable development objectives.

This is a joint project (JP) led by UNDP and implemented with UNICEF and WFP, under the coordination of UNRCO in partnership with the GoA and lines ministries, and international financial institutions. 

The donor of the joint project is the Joint SDG Fund.

Project outcomes and outputs

The outcomes and outputs of the Project are:

1.    Outcome 1: Armenia strategy document on sustainable development/ is anchored in an SDG-aligned, integrated, gender-sensitive and equitable financing framework.

1.1.  Output 1.1. Armenia strategy document on sustainable development is developed as an integrated, gender-sensitive and equitable national SDG framework.

1.2.  Output 1.2. Public finance management and Public Investment Management systems are strengthened for better measurement and increased adequacy, effectiveness and equitability of the distribution of public resources for the realisation of gender-responsive, child-sensitive and SDG-aligned policies

1.3.  Output 1.3. Public, private and development financing landscape, including existing flows, gaps and options, is mapped to inform the implementation of the Armenia strategy document on sustainable development.

2.     Outcome 2: Public and private investment and financing options for climate change, human capital and food security are identified, enabling accelerated, evidence-based and accountable progress towards selected SDGs.

2.1.  Output 2.1. Financing needs and gaps are diagnosed in the achievement of climate change, food security and human capital sectoral targets

2.2.  Output 2.2. Coherent financing frameworks developed in the pre-selected sectors for the allocation of sufficient and adequate public and private resources and increased efficiency and effectiveness of spending.

Final results 

The Joint Project started in July 2020, was officially launched in April 2021 and ended in December 2022. UN agencies, different ministries and project partners have provided their contribution to the project implementation.

In partnership with the GoA and main partner ministries the scope of the project has been defined in the context of development strategies and sectorial policies alignments with SDGs and budget programs.

The Joint Project has provided support to the GoA and partner ministries in the elaboration of a new comprehensive and long-term national development plan as well as identifying gaps and needs for guiding the planning and management of public funds for the attraction of additional resources.

Budget methodological instructions and new templates, development policies-budget programs and SDG-budget program alignments as well as their methodologies have been developed with the support of JP experts. In addition, a comprehensive analysis and mapping exercise was initiated on development policies-SDGs-budget programs alignments. The exercises of development policies - budget programs alignments and SDG targets – budget programs alignments have been implemented on the 2022 state budget as a support to the Ministry of Finance of Armenia in the scope of PFM Strategy.

As a result of active cooperation of local and international experts Development Finance Assessment for Armenia was implemented and Integrated National Financing Framework (INFF) roadmap of Armenia was designed. This is the base for the full implementation of INFF towards to development goals achievement.

A feasibility study on innovative finance instruments and mechanisms have been implemented by a consulting company to identify the feasible and efficient finance instruments and mechanisms which will help to the achievement of SDGs.

Baseline assessment was conducted for the mapping of public and private actors, possible attraction of financial means for climate change, food security and human capital and promotion of sustainable development in the focus areas of PFM and public investment management (PIM).

As a result of collaboration of the task force from respective ministries (Ministry of Environment, Ministry of Labor and Social Affairs, Ministry of Economy), financing needs and gaps have been identified for the achievement of sustainable results in the priority targets of climate change, food security and human capital.

Climate Change Financing Framework has been developed and communicated to the relevant Ministries to describe climate change policies tagging methods and ways in the state budget as well as to identify the main stakeholders and their responsibilities.