The European Bank for Reconstruction and Development (EBRD) is assisting Armenia in reducing its energy dependence on third countries. This was announced by EBRD President Odile Renaud-Basso at a press conference in Yerevan, held as part of the 33rd Annual Meeting and Business Forum of the EBRD.
"We are working on the development of renewable energy, which is very important for maintaining the green agenda. It is also crucial for enhancing energy security and reducing dependence on third countries. We have seen the risks of excessive dependence in Europe," emphasized Renaud-Basso, reports the "Arka" agency.
According to her, this issue is being actively discussed with the Armenian government, and support in this direction will continue. The EBRD President also noted that around 500 million euros are planned to be invested in Armenia in 2024, expressing hope to maintain this level of investment in the future.
The EBRD Annual Meeting and Business Forum took place in Yerevan from May 14 to 16.
Earlier, Renaud-Basso called the planned investment of 500 million euros a historic figure, noting that over the past five years, the EBRD has already invested 640 million euros in Armenia, with 50% of these funds directed to the private sector.
The EBRD is the leading institutional investor in Armenia, having invested approximately 2.12 billion euros in 211 projects in the country to date. Ninety-two percent of these investments have been made in the private sector.
