"Fabrizio Zarcone: an Italian leading the World Bank in Armenia – One Year of Concrete Commitment" by Carlo Coppola
Questo articolo dal titolo "Fabrizio Zarcone: bilancio di un anno alla guida della Banca Mondiale in Armenia" è stato pubblicato in lingua italiana da Carlo Coppola sul giornale "In Città Giovinazzo" diretto da papàs Antonio Calisi:
Ֆաբրիցիո Զարկոնե. Իտալացի՝ Համաշխարհային բանկի ղեկավարը Հայաստանում. Կոնկրետ հանձնառության մեկ տարի: Կառլո Կոպպոլայի հոդված.
Yerevan, July 1, 2026 — Exactly one year after taking office in the Armenian capital, Fabrizio Zarcone sees a significant expansion of his mandate as he now represents under a single leadership the entire World Bank Group in Armenia, uniting the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).
An Italian national with a PhD in Management Sciences from the prestigious ESADE Business School in Barcelona, Zarcone brings more than twenty years of international experience gained in Costa Rica, El Salvador, Bulgaria, the Czech Republic, Slovakia, and Thailand, with his career beginning in budget support initiatives in the West Bank and the Gaza Strip, an experience that profoundly shaped his working method. His first year unfolded within the new Country Partnership Framework 2025-2029, centered on three strategic pillars: employment, human capital, and resilience.
On December 23, 2025, the World Bank Board approved 250 million dollars for the Armenia Housing Response and Mortgage Market Enhancement project to support housing access for refugee families, one of the deepest and still open wounds in recent Armenian history.
In March 2026, a 200 million dollar loan was approved for the Economic Transformation Development Policy Operation, accompanied by co-financing of up to 80 million euros from the OPEC Fund. These important initiatives take place against a more solid than expected economic background, with GDP growth estimated at 5.2% in 2025, unemployment falling to 11.8% in the third quarter, and international reserves reaching 5.1 billion dollars, although significant structural challenges remain, particularly in infrastructure connectivity and the availability of qualified labor.
The expansion of Fabrizio Zarcone’s mandate arrives at a time the World Bank defines as transformative for Armenia, framed by the Washington Declaration of August 2025, the TRIPP corridor project, and the inaugural Armenia-European Union Summit of May 2026. The foundations have been laid; their solidity and ability to produce lasting results will now be tested by time.
Carlo Coppola
