ArmInfo In 2025, Armenia plans to attract 2 grants from the European Union. This was announced on October 5 at the parliamentary hearings on the draft state budget of the country for next year by the Minister of Finance of the Republic of Armenia Vahe Hovhannisyan.
According to him, grants are envisaged for the implementation of two programs for a total of 13.8 million euros. One project for 4.5 million euros will be aimed at supporting the implementation of the second program of reforms in the judicial and legal sphere, and the second for 9.3 million euros - for the development of the education system. The Minister also said that the EU may also provide Armenia with budgetary assistance in the amount of 25 million euros.
It is planned to attract grants for a total of 9.517 billion drams for the programs implemented by the Ministry of Territorial Administration and Infrastructure, the Ministry of Economy and the State Revenue Committee, 2.188 billion of which are for current expenses and 6.2 billion drams for capital expenses. The funds will be used to improve irrigation and drinking water systems, build solid waste landfills, modernize the road network, urban development, develop the electric power industry, and agriculture.
Hovhannisyan emphasized that in addition to grants, agreements have been reached with European financial institutions to attract credit resources, which are planned in the budget of the Ministry of Territorial Administration and Infrastructure in the amount of 18.5 billion drams. In this case, we are talking about both the loan amount itself and co-financing from the RA government. The amount of credit resources will be 11.8 billion drams. The Minister noted that the specified amount does not include the loan provided by the European Bank for Reconstruction and Development in the amount of 236 million euros for the construction of the southern section of the North-South highway. A similar agreement for the same purposes is planned to be signed with the European Investment Bank in the near future.
