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BAGHDASARYAN: EIB-FINANCED PROJECTS VERY IMPORTANT FOR ARMENIA'S ECONOMY
YEREVAN, March 5. /ARKA/. The projects financed by the European
Investment Bank are very important for development of Armenia's
economy, Arthur Baghdasaryan, the secretary of Armenian National
Security Council, said Wednesday as met with an EIB delegation headed
by Philip Simchak, chief of the bank's division in charge of lending.
Baghdasaryan is quoted by the council's press office as saying that
Armenia has experience in cooperating with the European Investment
Bank.
As an example of successful cooperation with the EIB, he pointed out
the modernization of three border crossings - Bagratashen, Bavra and
Gogavan. The European Investment Bank is co-financing this project.
In addition to the EBRD that has released 10.294 million euros,
also the European Investment Bank will release 30,316 million euros
to finance the modernization project. Funds will come also from the
European Union's Neighbourhood Investment Facility (12 million euros
in grants) and the United Nations Development Programme (more than
4 million euros as grant).
Simchak, on his side, said that the European Investment Bank
has embarked on the analysis of Eastern Partnership countries'
strategic needs and will finance projects in education health care,
infrastructure modernization, energy and SME areas.
As part of the integrated border modernization program, Bagratashen ,
Bavra and Gogavan border crossings will be modernized in conformity
with the best international standards to make it easier to cross the
border, to reduce corruption risks and red tape. .-0---
- See more at:
http://arka.am/en/news/economy/baghdasaryan_eib_financed_projects_very_important_ for_armenia_s_economy_/#sthash.qhNXi8M4.dpuf
YEREVAN, March 5. /ARKA/. The projects financed by the European
Investment Bank are very important for development of Armenia's
economy, Arthur Baghdasaryan, the secretary of Armenian National
Security Council, said Wednesday as met with an EIB delegation headed
by Philip Simchak, chief of the bank's division in charge of lending.
Baghdasaryan is quoted by the council's press office as saying that
Armenia has experience in cooperating with the European Investment
Bank.
As an example of successful cooperation with the EIB, he pointed out
the modernization of three border crossings - Bagratashen, Bavra and
Gogavan. The European Investment Bank is co-financing this project.
In addition to the EBRD that has released 10.294 million euros,
also the European Investment Bank will release 30,316 million euros
to finance the modernization project. Funds will come also from the
European Union's Neighbourhood Investment Facility (12 million euros
in grants) and the United Nations Development Programme (more than
4 million euros as grant).
Simchak, on his side, said that the European Investment Bank
has embarked on the analysis of Eastern Partnership countries'
strategic needs and will finance projects in education health care,
infrastructure modernization, energy and SME areas.
As part of the integrated border modernization program, Bagratashen ,
Bavra and Gogavan border crossings will be modernized in conformity
with the best international standards to make it easier to cross the
border, to reduce corruption risks and red tape. .-0---
- See more at:
http://arka.am/en/news/economy/baghdasaryan_eib_financed_projects_very_important_ for_armenia_s_economy_/#sthash.qhNXi8M4.dpuf