EDB to provide Armenia with  $ 3mln grant to fight coronavirus  infection

ArmInfo.The Eurasian Development Bank will provide Armenia with grant funds in the amount of $ 3 million to modernize and increase the capacity of the  republic's health care system in the fight against coronavirus  infection.

On October 21, the Armenian government approved the draft  presidential decree "On the approval of the agreement between the  Republic of Armenia and the Eurasian Development Bank on the signing  of an agreement between the Republic of Armenia and the Eurasian  Development Bank for the provision of a grant within the framework of  the ""Raising the level of preparedness for the COVID-19 epidemic in  the Republic of Armenia" program.

Within the framework of the program, it is planned to fully  reconstruct and modernize two regional branches of the National  Center for Disease Control and Prevention of the Ministry of Health  in Armavir and Ararat regions. It is also planned to build and equip  a new building for an infectious diseases hospital at the Vanadzor MC  in Lori region.

The Eurasian Fund for Stabilization and Development (EFSD, Fund;  formerly the EurAsEC Anti-Crisis Fund) is an $ 8.513 billion regional  financial instument established in 2009 by Armenia, Belarus,  Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The Fund was created  in order to overcome the negative crisis consequences, ensure  long-term sustainability and facilitate the integration of the  economies of the Fund's member states. The Fund provides the  following support to the participating states: Armenia has been a  member of the Eurasian Economic Union since January 2, 2015. The  volume of the EFSD project portfolio in the Republic of Armenia is:  for financial loans - US $ 300 million; on investment loans - 190  million US dollars, of which 150 million US dollars in the direction  of "Transport", 40 million US dollars - in the direction of  "Agriculture". One investment project in the direction of  "Agriculture" is under preparation, the estimated volume of the  investment loan is 25.2 million US dollars.