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ARMENIA: EIB PROVIDES [email protected] MILLION TO BORDER CROSSING AND WATER INFRASTRUCTURE UPGRADE
ENPI Info Centre
http://enpi-info.eu/maineast.php?id=29937&id_type=1&lang_id=450
Aug 7 2012
The European Investment Bank (EIB) is providing [email protected] million in
loans to finance the modernisation of border crossing and water
infrastructure in Armenia, according to a press release from the Bank.
[email protected] will finance the construction and modernisation of three
border crossings on the Armenian side of the border with Georgia
and the related infrastructure and [email protected] is allocated to support
the rehabilitation of water supply, sewerage and sewage treatment
facilities in small municipalities across Armenia.
The loan of EUR 30.3 million will support the development of the border
crossings points in Bagratashen, Bavra and Gogavan and the improvement
of the access roads in their vicinity and associated infrastructure,
including a new bridge at Bagratashen and the reconstruction of the
7.4 km main road leading to the Gogavan crossing.
This 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 project will
contribute to the smoother flow of people, vehicles and goods between
Armenia and Georgia.
The loan of EUR 6.5 million 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.
Both projects, "Modernisation of Bagratashen, Bavra and Gogavan Border
Crossing Points" and "Armenian Small Municipalities Water Project",
are being co-financed by the European Bank for Reconstruction and
Development (EBRD) and the Neighbourhood Investment Facility (NIF).
The signing of these loans almost triples total EIB lending in Armenia
to EUR 57 million. The Bank has previously supported the rehabilitation
of the metro in Yerevan (with a EUR 5 million loan) and provided a
credit line of EUR 15 million to support SMEs in Armenia.
The EIB - the European Union's bank - finances projects in Armenia
on the basis of an EU Council and European Parliament mandate for
the Eastern Partner Countries (Ukraine, Moldova, Georgia, Armenia,
Azerbaijan) and Russia of EUR 3.8 billion for the period 2007-2013.
The current mandate provides for the financing of projects
that contribute to (1) local private sector development, in
particular support for SMEs, (2) development of social and economic
infrastructure, and (3) climate change mitigation and adaptation. (EU
Neighbourhood Info)
ENPI Info Centre
http://enpi-info.eu/maineast.php?id=29937&id_type=1&lang_id=450
Aug 7 2012
The European Investment Bank (EIB) is providing [email protected] million in
loans to finance the modernisation of border crossing and water
infrastructure in Armenia, according to a press release from the Bank.
[email protected] will finance the construction and modernisation of three
border crossings on the Armenian side of the border with Georgia
and the related infrastructure and [email protected] is allocated to support
the rehabilitation of water supply, sewerage and sewage treatment
facilities in small municipalities across Armenia.
The loan of EUR 30.3 million will support the development of the border
crossings points in Bagratashen, Bavra and Gogavan and the improvement
of the access roads in their vicinity and associated infrastructure,
including a new bridge at Bagratashen and the reconstruction of the
7.4 km main road leading to the Gogavan crossing.
This 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 project will
contribute to the smoother flow of people, vehicles and goods between
Armenia and Georgia.
The loan of EUR 6.5 million 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.
Both projects, "Modernisation of Bagratashen, Bavra and Gogavan Border
Crossing Points" and "Armenian Small Municipalities Water Project",
are being co-financed by the European Bank for Reconstruction and
Development (EBRD) and the Neighbourhood Investment Facility (NIF).
The signing of these loans almost triples total EIB lending in Armenia
to EUR 57 million. The Bank has previously supported the rehabilitation
of the metro in Yerevan (with a EUR 5 million loan) and provided a
credit line of EUR 15 million to support SMEs in Armenia.
The EIB - the European Union's bank - finances projects in Armenia
on the basis of an EU Council and European Parliament mandate for
the Eastern Partner Countries (Ukraine, Moldova, Georgia, Armenia,
Azerbaijan) and Russia of EUR 3.8 billion for the period 2007-2013.
The current mandate provides for the financing of projects
that contribute to (1) local private sector development, in
particular support for SMEs, (2) development of social and economic
infrastructure, and (3) climate change mitigation and adaptation. (EU
Neighbourhood Info)