EBRD to issue EUR 39mln loan to Armenia for construction of Yerevan  customs and logistic center 

ArmInfo.  The European Bank for Reconstruction and Development (EBRD) will provide a ?39 million loan to Armenia for the Yerevan Customs and Logistics Center project. The  Armenian government approved the corresponding loan agreement on  December 11.

As stated in the explanatory note to the document, a loan agreement  was signed between the Republic of Armenia and the European Bank for  Reconstruction and Development on September 19, 2025, for the  construction of a customs and logistics center in Yerevan for the  needs of the State Revenue Committee of the Republic of Armenia. The  agreement provides for the allocation of ?39 million to the Republic  of Armenia (the loan funds are planned to be allocated in two  tranches: Tranche 1 - ?30 million and Tranche 2 - ?9 million). A  grant of ?6 million is also planned for the project's implementation;  the agreement for the allocation of this grant was also signed on the  same day. At the same time, it is planned to allocate a certain  amount to the Republic of Armenia in the form of a grant, which will  be used for technical assistance (mobilization) in the implementation  of the project.

The financial resources of the loan and grant agreements do not  include co-financing from the Government of the Republic of Armenia,  which will be used to pay VAT in the Republic of Armenia. The amount  of co- financing of the loan and grant funds from the Government of  the Republic of Armenia will be 9 million euros, of which 7.8 million  euros will be in the form of loan funds (Tranche 1 - 6 million and  Tranche 2 - 1.8 million), and 1.2 million euros will be in the form  of grant funds.

The loan funds stipulated in the Agreement will be used for the  construction of the Yerevan Free Economic Zone Center, the  procurement of goods and services, and the provision of consulting  services, while the grant funds will be used for the construction of  the Yerevan Free Economic Zone Center and the procurement of  equipment. The project includes the construction of a foreign  economic activity center and an administrative building for the State  Revenue Committee of the Republic of Armenia (the construction costs  of the administrative building will be covered by the Republic of  Armenia's state budget). The total area will be 19.1 hectares. Of  this, 13.5 hectares will be allocated for the Free Economic Zone  center itself and its infrastructure, while 5.6 hectares will be  allocated for the administrative buildings and their infrastructure.

It is noted that the creation of the Yerevan Customs and Logistics  Center is an integral part of the current program for the creation of  Free Economic Zone centers.

The Free Economic Zone centers will house import and export processes  in a single location. Key processes will be based on electronic  systems and software solutions. These centers will house all  government agencies and private organizations that provide the  necessary permits for the import and export of goods. The creation of  the Yerevan Customs and Logistics Center will enable Free Economic  Zone participants to provide high-quality services and ensure the  necessary efficiency of customs control. The following are planned  for construction in the center of the SEZ:

a warehouse (with a solar power plant on the roof), an inspection and  unloading building: approximately 9,000 square meters

a service hall and administrative section of the ATG center: 2  underground (shelters) and 2 above-ground floors: approximately 2,100  square meters

a truck parking lot: for 408 vehicles

a 24-hour fire-fighting reservoir and a pumping station for the  entire center: approximately 1,000 square meters

a two-story laboratory: with a total area of 700 square meters

a platform for radiation screening devices, an inspection building  for organized and collective cargo: 2,100 square meters

a parking lot for restricted access vehicles: for 28 vehicles

It is also planned to build the main building of the Committee with  an area of 34,000 square meters, a staff canteen with an area of 700  square meters, a warehouse, a boiler room, a transformer substation  with an area of 1,000 square meters, a parking lot for citizens with  an area of 3,000 square meters, a parking lot for employees with an  area of 4,000 square meters, roads and other auxiliary buildings on  the territory of the administration.

Regarding the volume of trade turnover, 80,354 (maximum 714 per day)  and 70,901 (maximum 573 per day) TT IM (transport from the customs  office of entry to the inland customs office) transit declarations  were filed from border crossing points to temporary customs  warehouses (terminals) of the customs service located in Yerevan in  2023 and 2024, respectively. At the same time, the Yerevan Customs  and Logistics Center monitored, processed, and cleared cargo  transported from border crossing points to temporary customs  warehouses in Yerevan, with approximately 71,715 trucks in 2023 and  approximately 70,017 trucks in 2024.

The Yerevan Customs and Logistics Center will be located at 5 Gevorg  Chaush Highway, Proshyan Village, Nairi Community, Kotayk Province,  Republic of Armenia.

The terms of the loan agreement are as follows: loan amount: ?39  million; loan currency: euro; a grant of ?6 million will be provided  for the implementation of the project from the EU Neighbourhood  Investment Platform (EU NIP); the loan will be provided in two  tranches: Tranche 1: ?30 million, Tranche 2: ?9 million; loan  interest rate type: floating; annual loan interest rate: 6-month  Euribor + 1% margin; loan servicing payment frequency: semi-annually;  a one-time fee of 1% of the loan amount, payable separately for each  tranche on the effective date or disbursement date of the loan or  within 7 days thereof; Loan origination fee: 0.5% per annum,  calculated on the outstanding loan amount, starting 60 days after  signing the Agreement for Tranche 1 and 60 days after disbursement  for Tranche 2.

Principal Amount: The loan will be repaid in 22 equal semi-annual  instalments, separately for each tranche.

Loan Term: Term of Tranche 1: 15 years from the date of signing the  Agreement, with a grace period of 4 years. Term of Tranche 2: 15  years from the date of disbursement, with a grace period of 4 years.  The interest rate on the entire drawn and outstanding loan amount or  a portion thereof may be changed from floating to fixed in accordance  with EBRD procedures (minimum ?5 million). Loan Disbursement Term: 5  years from the date of signing the Agreement or any later date  specified and communicated to the EBRD.