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-