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In our opinion, this is an important and useful loan agreement and a good programme. The loan is sovereign, i.e. we take the loan in the context of the state guarantees of our country. Within the framework of the presented and negotiated project of Yerevan Municipality, this is the Phase II, which refers to the rise of the energy efficiency of the buildings of public significance of Yerevan, in this case, the kindergarten buildings. According to the rapporteur, the general cost is 37.1 million Euros, the co-financing of Yerevan Municipality will be 2 million Euros, the providing loan by the bank is 25 million Euros, the investment grant being provided by the EU Neighbourhood investment platform – 10.1 million Euros.

The RA Deputy Minister of Territorial Administration and Infrastructure Vache Terteryan said this at the extraordinary sitting of the Standing Committee on Financial-Credit and Budgetary Affairs on April 5, presenting for debate the Agreement On Ratifying the Financial Agreement of Yerevan Energy Efficiency Phase II.

The Financial Agreement with 23 Million Euros Yerevan Energy Efficiency Phase II signed on November 29, 2023 in the context of Recovery, resilience and reform: post 2020 Eastern Partnership priorities, under the guidelines Flagship 5 of the Economic and Investment Plan – Investing in a green Yerevan of the European Union for Armenia. As a result of the programme implementation, it will be possible to decrease the consumption of the energy of 38 public buildings – 6 polyclinics and 32 kindergartens.

As the Deputy Minister informed, the list of the buildings is preliminary.

The Deputy Mayor of Yerevan Levon Hovhannisyan presented details on the content of the general programme, noted that within the framework of the Programme I, 15 kindergartens were fully repaired, as a result of which, the seismic resistance of the kindergarten buildings were provided, the energy savings increased. The works of the Programme I are still under the process, and the end of the works is scheduled in September 2025.

The Agreement was endorsed by the Committee. It is designed to include in the draft agenda of the NA upcoming regular sittings.