On Tuesday, May 14, during the annual meeting and business forum of the EBRD, a ceremony was held to sign a document on the program for the creation of a customs and logistics center in the Syunik region of Armenia.
According to the press service of the Ministry of Finance of Armenia, the document was signed by the Minister of Finance of Armenia Vahe Hovhannisyan, from the Armenian side, and the Vice President of the bank, Matteo Patrone, from the EBRD side.
The program involves establishing a customs and logistics center in the Syunik region with financing from the EBRD.
"The center aims to increase the efficiency and transparency of customs operations, improve the quality of services provided, and reduce the time required for customs clearance through the implementation of a 'single window' system," the statement said.
It was previously announced that the EBRD will allocate €12 million to Armenia for the construction of a customs and logistics center in the Syunik region. The creation of such a center, as noted by the government of Armenia, will be a priority for the Syunik region, where existing temporary storage warehouses are experiencing capacity issues.
BMG reported that Armenia became a member of the EBRD on December 7, 1992. The Bank has participated in financing 210 projects in Armenia, with a total investment portfolio of 2.080 billion euros. The share of investments in the private sector is 81%.
