Armenia set to deepen cooperation with european investment bank

06.02.2020 18:59
Armenia set to deepen cooperation with european investment bank

YEREVAN, February 6. /ARKA/. Armenian Minister of Territorial Administration and Infrastructure Suren Papikyan and a delegation of the European Investment Bank (EIB), led by loan officer Barbora Zemanova, discussed today in Yerevan EIB-funded programs in Armenia in the field of transport, energy, improvement of water infrastructures and management of municipal solid waste.

The sides focused, in particular, on the construction of the high-voltage power line between Armenia and Georgia, restoration of the water supply and drainage infrastructure, and the 3rd and 4th tranches of the North-South highway construction program.

An exchange of views took place around a 4.2 million euro grant agreement signed at the end of last year to improve Armenia’s Road Safety.

The main goal of the program is to ensure road safety along the M6 ​​highway, running to the north of the country and also some roads running to the south. The money was to be used to install special safety equipment on the roads, which is supposed to help cut the rate of accidents.

“Changing road safety criteria and their harmonization with European criteria is based on the need to improve road safety in Armenia. We highly appreciate the financial, technical and advisory assistance provided by the bank,” Papikyan said.

The sides agreed to establish an exchange of necessary information in order to cooperate on the above programs.

The European Investment Bank (EIB) has been working with Armenia for about 11 years, providing as of February 2018 a total of 380 million euros funds for the development of socio-economic infrastructures, promotion of the private sector and the mitigation of the impact of climate change. --0

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