YEREVAN, July 17. /ARKA/. A financial agreement for the Armenia-Resilient 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.
The event was attended by Armenian Deputy Prime Minister Mher Grigoryan and EIB President Nadia Calviño.
According to the Armenian government, the program, implemented under a €50 million loan agreement, will contribute to the sustainable development of the Syunik region of the Republic of Armenia and will focus on its economic development and the improvement of infrastructure in the areas of water supply, healthcare, and education.
The program will also help meet the needs of displaced persons and host communities who have settled in the Syunik region and ensure decent living conditions.
Deputy Prime Minister Mher Grigoryan emphasized the importance of signing the Resilient Syunik Framework Loan Agreement and thanked the EIB partners for their work in preparing it, wishing for the effective implementation of this important project.
“The cooperation between the Armenian government and the EIB is aimed at strengthening the political dialogue between Armenia and the European Union, which has now entered a more intensive phase, expanding the agenda of the partnership based on common approaches to sustainable development, economic growth, and increasing the sustainability of the region,” Grigoryan noted.
During his visit to Luxembourg, Grigoryan held meetings with the president and vice president of the EIB, discussing with them the prospects for developing cooperation and implementing joint programs.
The launch of the Resilient Syunik – Team Europe initiative, which aims to promote the stable socio-economic and institutional development of the Syunik region of the Republic of Armenia (bordering Iran and Azerbaijan), was announced in January 2023.
This is a joint project of the EU, the European Investment Bank, Austria, France, Germany, Poland, Sweden, and Switzerland as a partner.
The initial budget for the initiative for the next five years is €51 million (with the prospect of an increase, as it is open to other EU countries interested in implementing new development programs in Syunik). -0-
