Saturday, October 9 2021 12:42

ArmInfo. The Minister of Finance of Armenia Tigran Khachatryan received theHead of representation office of the European Investment Bank (EIB) Maciej Czura yesterday.  

According to the press service of the Ministry of Finance,  Khachatryan highly appreciated the cooperation with the European  Investment Bank and attached importance to the programs implemented  in various fields with co- financing of the EIB, such as the  North-South highway and Sisian-Agarak highway, as well as the  programs for managing the Yerevan Metro and the transport system of  Yerevan, water resources and irrigation infrastructure.  The EIB  representative noted that he is aware of the steps taken by the  Armenian government to improve the business environment, and stressed  that the bank is ready to help its Armenian partners in this  direction. At the same time, Czura expressed satisfaction with the  level of cooperation with the Government of the Republic of Armenia  and expressed confidence that all joint programs will further  contribute to the development and diversification of the Armenian  economy.

During the meeting, the parties discussed a wide range of issues of  mutual interest.  The European Investment Bank (EIB) is the financial  institution of the European Union (EU), whose function is to provide  long-term financial support to investment programs. It was founded in  1958 and currently operates not only in the EU member states, but  also in more than 150 countries. In these 150 countries, the EIB is  based on EU external cooperation and policy development areas  (private sector, infrastructure development, energy security and  environmental sustainability).

February 12, 2008 in Luxembourg and on February 29 in Yerevan, a  Framework Agreement was signed between the Republic of Armenia and  the EIB, which regulates the activities of the EIB in the Republic of  Armenia. The purpose of the Agreement is to facilitate the financing  of investment programs of interest to Armenia with the support of the  EIB through loans, guarantees or other mechanisms.

The EIB operates in Armenia mainly in the areas of energy, transport,  water supply, solid waste management and the environment. The EIB's  portfolio in Armenia is 327,542,044.82 euros. The EIB is involved in  financing 16 programs in Armenia.