ArmInfo.RA Minister of Finance Vahe Hovhannisyan received the Representatives of theEuropean Investment Bank (EIB). According to the press service of the Ministry of Finance, at the meeting the minister emphasized that the European Investment Bank is one of the important partners in the implementation of infrastructure projects, and emphasized the importance of continuing cooperation with the EIB in a number of areas, in particular in the areas of energy, education, road construction and export garbage.
Representatives of the EIB, in turn, thanked for the effective and constructive interaction and confirmed their readiness to discuss with the Armenian side the prospects for cooperation on the implementation of new projects.
They also demonstrated a willingness to discuss opportunities to support solutions to problems caused by the displacement of the Armenian population of Nagorno-Karabakh.
The European Investment Bank (EIB) is the long-term financing institution of the European Union, owned by its Member States. It provides long-term finance for sound investments in pursuit of EU policy goals, supporting projects in four priority areas: infrastructure, innovation, climate and environment, and SMEs.
EIB was founded in 1958 and currently operates not only in EU member states, but also in more than 150 countries. The EIB has worked with Armenia since 2010. It operates in the country in line with the European Neighbourhood Policy, the Eastern Partnership and other EU bilateral agreements. In the last decade, the Bank has provided financing for a wide range of projects, from infrastructure and small businesses to water supply services and wastewater treatment. It also funds cross-border connections to build safer and more sustainable roads. The first Yerevan energy efficiency project, which benefits from a EUR 15 million investment from the EIB and the multi-donor Eastern Europe Energy Efficiency and Environment Partnership (E5P) fund, is ongoing to improve the energy efficiency, seismic stability and sanitary conditions of 50 kindergartens in Yerevan. The project will improve the quality of life of over 1 million people living in the city.