ArmInfo.European Bank for Reconstruction and Development to provide Armenia with a 10.6 million euro loan for the modernization of the Meghri checkpoint on the Armenian-Iranian border.
The Parliamentary Commission on Financial-Credit and Budgetary Issues of the RA National Assembly issued a positive opinion on the submitted agreement. According to the Deputy Chairman of the RA State Revenue Committee Mikael Pashayan, the agreement with the Bank was signed on February 7, 2020. The total cost of the modernization program will amount to 21.1 million euros, of which the EBRD will provide the republic with a loan of 10.6 million euros on the terms of Libor + 1%, which is 1.7% in half-year terms. Most of the funding will come from grant funds. As a result of the implementation of the program, the checkpoint will be expanded from the current 6.6 ha to 8.8 ha. The capacity will increase from 300 vehicles per day to 900. The entire project is expected to be completed in late 2022 - early 2023. At the checkpoint, mechanisms corresponding to international standards will be applied - phytosanitary, customs, etc.
Pashayan also noted that the modernized checkpoint should become an important component of the North- South transport corridor. In addition, it will contribute to the growth of trade between Iran and Armenia, Iran with the EAEU countries, and the EAEU countries with Iran.
It should be reminded that the EBRD and the European Union will provide Armenia with ? 21,146,263 for the modernization and expansion of the checkpoint "Meghri" on the Armenian-Iranian border. More than half of the total amount - 10,520,000 euros and 700,000 euros - will be provided as a grant by the European Union within the framework of the European Neighborhood Policy. Earlier ArmInfo reported that with the financial support of the EU and the European Investment Bank, within the framework of the United Nations Development Program (UNDP), three checkpoints on the state border of Armenia were modernized: "Bagratashen", "Bavra" and "Gogavan". The total budget for the modernization of these three checkpoints was 54.43 million euros. According to the information of the EU delegation in Armenia, within the framework of the program, the Armenian government received a loan from the EU in the amount of 30.8 million euros, grants for 17.2 million euros. The co-financing of the Armenian government amounted to 4.44 million euros. UNDP financial investments amounted to EUR 1.9 million.
