Wed, 23 July
30.1 C
Yerevan
USD: 383.74 RUB: 4.93 EUR: 450.05 GEL: 141.25 GBP: 521.81

Armenia and EBRD sign 20 million euro grant agreement

YEREVAN, March 16. / ARKA /. Armenian ministry of energy and natural resources and the European Bank for Reconstruction and Development (EBRD) have signed on Monday an investment agreement, enabling Armenia to attract a nearly 20 million euro grant.

The money will be provided under the Eastern Europe Energy Efficiency and Environment Partnership, program (E5P).

“This agreement will help to attract additional resources for implementtaion of energy efficiency projects in the communities of Armenia. Armenia attaches importance to the signing of this document,’ said energy and natural resources minister Yervand Zakaryan at a briefing after the signing of the document.

According to him, in the first stage Armenia will invest 1 million euro of its own funds and receive approximately a 20 million euro grant.

He said Armenia will have to invest the first 100 thousand euros in the near future and the rest within for four years.

E5P Fund manager Andres Lund stressed that the agreement is an important step for the development of energy cooperation between the EU and Armenia. According to him, the funds will be used to finance renewable energy projects, introduction of heating systems and systems for management of wastewater and solid waste in the communities.

Armenia, Georgia and Moldova joined the E5P in October 2013. E5P donors are EU countries, also, Iceland, Norway, Ukraine, the United States, as well as Armenia, Georgia and Moldova. -0-

spot_img

POPULAR

Euro falls by 2.8 points against Armenian dram, meanwhile, US dollar and ruble decline slightly

As of July 16, 2025, the average market exchange rate of the U.S. dollar against the Armenian dram fell by 0.16 points compared to July 15, amounting to 383.96 drams.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Armenia and EIB sign financial agreement for Resilient Syunik Program worth €50 million

A financial agreement for the Armenia-Sustainable Syunik Program has been signed in Luxembourg by Armenian Minister of Finance Vahe Hovhannisyan and Vice President of the European Investment Bank (EIB) Teresa Czerwińska.

US dollar rises slightly against Armenian dram, euro and ruble fall

The average market exchange rate of the US dollar against the Armenian dram as of July 17, 2025, rose by 0.16 points compared to July 16 and amounted to 384.12 drams.

LATEST NEWS

spot_imgspot_imgspot_img