YEREVAN, December 16. /ARКА/. At an extraordinary session on Tuesday, the National Assembly of Armenia ratified a €50 million financing agreement with the European Investment Bank (EIB) for the “Armenia – Resilient Syunik, Special Investment Window 1 of the Neighborhood and Enhanced Partnership Instrument+ (NIP+)” program.
Deputy Minister of Territorial Administration and Infrastructure Kristine Ghalechyan said the main objective of the agreement, signed on July 16, 2025, is to increase the economic resilience of the Syunik region and improve the population’s living standards through targeted support and multi-sector investments.
The program includes three components: water supply, education, and healthcare. She identified the development of high-quality healthcare and health services, access to quality education, expanding professional skills, and developing water supply systems as key program priorities.
“The program’s implementation is expected to improve households’ and communities’ access to livelihoods and social services, expand economic and employment opportunities, ensure the sustainability of water supply systems, and, most importantly, guarantee the quality of drinking water for the population,” Ghalechyan emphasized.
The initiative to promote the stable socio-economic and institutional development of the Syunik region (bordering Iran and Azerbaijan), was announced in January 2023. It is a joint project of the EU, the European Investment Bank, Austria, France, Germany, Poland, Sweden, and Switzerland as a partner.
Its initial budget for the next five years is €50 million (with potential for increase, as it is open to other EU countries interested in implementing new development programs for Syunik).
About the EIB in Armenia
The EIB has been cooperating with Armenia since 2010 under the European Neighborhood Policy’s Eastern Partnership program and other bilateral agreements with the EU. Over the past decade, the Bank has financed a range of projects, from infrastructure and small businesses to water supply and wastewater treatment services. The EIB also finances the construction of cross-border communications to improve road safety and sustainability.-0-
