Your trusted source

The Armenian government discussed and approved three agreements with the European Commission at a regular meeting on Thursday.

Presenting the projects, Deputy Prime Minister Mher Grigoryan said the financing agreements expect to attract €9,15 million and €23 million in credit and grants to Armenia. 

The first agreement envisages funding of €9 million for energy efficiency and environmental projects.

The main goal of the project is to support energy efficiency and environmental initiatives in Armenia. The project aims to increase energy efficiency in residential buildings, public buildings, non-gasified communities and low-income households, as well as to reduce pollution of Lake Sevan.

The second project envisages the signing of an EU-Armenia financing agreement on empowering local stakeholders for development worth €15 million, of which EU assistance will amount to €14 million, while €1 million will be provided by the beneficiary's authorized body.

This project aims to encourage the participation of a broad circle of local stakeholders in the socio-economic development of their communities through the use of pilot innovative methods and processes.

Under the third agreement, a total of €23 million will be allocated to Armenia to support the implementation of the Comprehensive and Enhanced Partnership Agreement (CEPA) and reforms in Armenia.