As part of the PROGRESS programme, the OECD organised an online discussion on the results of stocktaking of Armenia’s financing instruments for climate change adaptation in agriculture in Armenia and future programme activities. 

The event gathered representatives of the Ministry of Economy and the Ministry of Environment of Armenia as well as the PROGRESS programme’s Consortium Partners. The stocktaking report that was presented during the meeting and included information collected during an OECD mission to Armenia on 24-26 September 2024.

The OECD presented the working draft findings of the stocktaking, highlighting the current landscape of public and private financing for climate adaptation in Armenian agriculture. In the open discussion, the Ministry of Economy emphasised that their existing agricultural programmes include adaptation components on climate resilience. In addition, the Ministry of Economy noted the focus on smallholder farmers and the use of monitoring systems in the agricultural programmes.

The meeting also provided an opportunity to present key EU financing schemes relevant for climate adaptation in agriculture, offering relevant lessons for Armenia’s alignment with the EU Green Deal and agricultural risk coverage in the EU, highlighting challenges and opportunities in scaling agricultural insurance.

The participants of the meeting agreed that the OECD, in collaboration with the Ministry of Economy and other partners, will identify one key financial instrument for further technical work and development of implementation options by the end of 2025 or early 2026.