.Armenia plans to attract 2 grants from EU for construction of  North-South road section

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.