2 Loan Agreements Signed | EUNewsletter

2 Loan Agreements Signed

14 December 2015
ARS_9775

The European Bank for Reconstruction and Development (EBRD) is providing a €8 million loan to Armenia to finance the construction of a solid waste landfill in Yerevan that complies with EU regulations. The EU will provide a matching grant of €8 million to the Republic of Armenia. A loan agreement between the Republic of Armenia and the EBRD was signed on 11 December 2015. Ambassador Piotr Switalski, the Head of the EU Delegation to Armenia, attended the ceremony.
ARS_9756The new landfill will meet international standards and operate as a commercially sustainable unit. It will have modern solid-waste management systems and cover the collection and disposal of municipal solid waste. The facility, located on the outskirts of Yerevan, will provide major environmental and social benefits for the 1.1 million residents of the Armenian capital.
On the same day, Amabassador Switalski attended the signing ceremony of another loan agreement. This agreement is for €83 million for a project to be implemented by KfW, the Republic of Armenia, and High Voltage Electric Networks CJSC – the “Caucasus transmission network III (Project phase 2)” programme. The EU will provide a grant of €10 million to the Republic of Armenia to support this initiative.
12346440_935354769851786_3994090970218893544_nThe loan will have a 15-year repayment period, 5 of which are preferential. Loan funds are going to be used in Ddmashen to build a substation and transmission lines, to rehabilitate and reconstruct power grids, to operate equipment and machinery, and provide finances for consulting services during project preparation and implementation.

2 Loan Agreements Signed

The European Bank for Reconstruction and Development (EBRD) is providing a €8 million loan to Armenia to finance the construction of a solid waste landfill in Yerevan that complies with EU regulations. The EU will provide a matching grant of €8 million to the Republic of Armenia. A loan agreement between the Republic of Armenia and the EBRD was signed on 11 December 2015. Ambassador Piotr Switalski, the Head of the EU Delegation to Armenia, attended the ceremony. ARS_9756The new landfill will meet international standards and operate as a commercially sustainable unit. It will have modern solid-waste management systems and cover the collection and disposal of municipal solid waste. The facility, located on the outskirts of Yerevan, will provide major environmental and social benefits for the 1.1 million residents of the Armenian capital. On the same day, Amabassador Switalski attended the signing ceremony of another loan agreement. This agreement is for €83 million for a project to be implemented by KfW, the Republic of Armenia, and High Voltage Electric Networks CJSC – the “Caucasus transmission network III (Project phase 2)” programme. The EU will provide a grant of €10 million to the Republic of Armenia to support this initiative. 12346440_935354769851786_3994090970218893544_nThe loan will have a 15-year repayment period, 5 of which are preferential. Loan funds are going to be used in Ddmashen to build a substation and transmission lines, to rehabilitate and reconstruct power grids, to operate equipment and machinery, and provide finances for consulting services during project preparation and implementation.