Armenia secures €50 million from EIB for Syunik development

The Armenian government approved on Thursday a loan agreement with the European Investment Bank (EIB) for €50 million to support the development of the Syunik region.

Report informs via Armenian media that the funds will be allocated to improve water supply infrastructure, healthcare, and education in local communities. Energy efficiency projects are also planned in the same areas.

The loan will be provided for a term of up to 20 years, and the project is expected to be implemented over a five-year period.