1 / 2

The financial contract between the Republic of Armenia and the European Investment Bank Yerevan energy efficiency phase two was signed on November 29, 2023. According to the contract, the European Investment Bank provides Armenia with a loan of 25 million euros to support the improvement of sustainable energy efficiency, which is aimed at Yerevan's public buildings, in particular, kindergartens and polyclinics.

The draft law on Ratifying the Financial Contract Yerevan energy efficiency phase two between the RA and the European Investment Bank was debated at the RA NA sitting on April 11.

6 polyclinics and 32 kindergartens were selected within the framework of the project which was presented by the RA Deputy Minister of Territorial Administration and Infrastructure Vache Terteryan. The target of the project will be a 65% reduction in energy consumption with an estimated savings of around 275 million AMD.

The member of the Standing Committee on Financial-Credit and Budgetary Affairs Davit Karapetyan presented the endorsement of the Head Committee on the draft.