The European Investment Bank (EIB) is significantly expanding its presence in Armenia, having signed a package of agreements in Yerevan totaling €316 million.
According to the EIB’s press office, the cornerstone of this initiative is a €236 million loan agreement for the construction of the strategically important Sisian-Kajaran highway. This road will form part of the international North-South Transport Corridor, linking the European Union with the Middle East and Asia.
In the social sector, the EIB, in cooperation with the European Union, is allocating €35 million for the modernization of Yerevan’s urban infrastructure. Of this, €25 million will come as a loan from the EIB, and an additional €10 million as a grant from the EU. These funds will be used to improve energy efficiency in six polyclinics and 32 kindergartens across the capital.
Additionally, the bank is providing €58.5 million to support Armenian small and medium-sized enterprises (SMEs) through local financial institutions. This loan will be supplemented by an €11 million grant from the European Commission, enabling long-term financing in the local currency for Armenian entrepreneurs.
