Armenian government amends loan and grant agreement under Kotayk and  Gegharkunik Solid Waste Management Program

ArmInfo. On January 22, the Armenian government approved the signing of agreements amending the loan agreement between Armenia and the EBRD, signed on April 5, 2016,  and the grant agreements signed on June 30, 2017, between Armenia and  the EU Neighborhood Investment Platform and the E5P Regional Fund  within the framework of the "Solid Waste Management in Kotayk and  Gegharkunik" project.

As stated in the document's rationale, the "Solid Waste Management in  Kotayk and Gegharkunik" project aims to create an integrated waste  management system in the aforementioned regions of the Republic of  Armenia. On April 5, 2016, a loan agreement for EUR 5,500,000 was  signed between the Republic of Armenia and the EBRD within the  framework of the project, and on June 30, 2017, two grant agreements  were signed with the support of the EU Neighborhood Investment  Platform (EUR 3,500,000) and the E5P Regional Fund (EUR 2,000,000).

In accordance with the provisions of the aforementioned loan  agreement, the former 12 urban communities of the two regions also  established a limited liability company, "Kotayk and Gegharkunik."  These 12 founding urban communities also signed an Agreement with the  EBRD to support the implementation of the project.

As a result of changes in the administrative-territorial divisions  implemented in the Republic of Armenia in recent years, the current  communities of Abovyan, Byureghavan, Tsaghkadzor, Hrazdan, Nor  Khachn, Nairi (including the former urban community of Yeghvard),  Charentsavan and Gavar, Martuni, Chambarak, Sevan, and Vardenis in  the Kotayk region are the legal successors of the former 12 urban  communities.  Currently, due to the increase in the number of  communities as a result of their consolidation and the renaming of  one of them (Yeghvard is now Nairi), it became necessary to make the  communities of Akunk, Arzni, Garni, and Jrvezh in the Kotayk region  also beneficiaries of the Project and include them in the Project  Implementation Support Agreement. To this end, amendments were made  to the Company's charter in 2025, and these communities also became  new shareholders. At the same time, despite the increase in the  number of signatories, the geographic scope and functions of the  program implemented under the agreements remained unchanged.  Therefore, it became necessary to amend the aforementioned loan and  grant agreements accordingly.