EIB gives €36 million to Armenia

07.08.2012 - 11:48

The European Investment Bank (EIB) is providing two loans to the Republic of Armenia. €30.3 million to finance the construction and modernisation of three border crossings on the Armenian side of the border with Georgia and the related infrastructure, and €6.5 million to support the rehabilitation of water supply, sewerage and sewage treatment facilities in small municipalities across Armenia.

The border crossings will help to implement the Armenian Government’s key priority of fostering the development of reliable transit routes of vital importance for the whole region. Once in operation, the bank says the project will contribute to the smoother flow of people, vehicles and goods between Armenia and Georgia.

Work to improve water and sewerage will finance the improvement of the drinking water supply and wastewater treatment for some 300 000 inhabitants of 17 smaller towns in Armenia. This will help to increase the quality of life by providing water services meeting international standards particularly for citizens with lower incomes living in the poorer areas of the country that will benefit most from this project, says the bank.