Armenia: Solid waste management gets a boost from the EIB
16 October 2015
The European Investment Bank (EIB) is lending EUR 8 million to finance the first phase of improvements to the solid waste disposal system in Yerevan and four surrounding regions.
The project concerns the construction of a sanitary landfill, closure of the existing landfill and the implementation of waste diversion measures in the capital of Armenia and surrounding regions, serving a population of 1.9 million.
EIB Vice-President László Baranyay, responsible for the Bank’s financing operations in Armenia, stated: “This is the first EIB loan supporting solid waste management in the Eastern Partnership region. It concerns key social infrastructure, highly relevant for the quality of life and health conditions of almost two million people. This project is an example of excellent cooperation between the EIB, regional players, the European Commission and partner IFIs.”
The project is co-financed by a EUR 8 million European Bank for Reconstruction and Development (EBRD) loan with a EUR 1.9 million technical assistance grant, and a EUR 8 million grant from the EU Neighbourhood Investment Facility (NIF). The EIB is expected to provide EUR 17 million in total to support the project, the EUR 8 million loan signed today representing only the support for the first phase of the project.
H.E. Mr Piotr Antoni Switalski, Ambassador, Head of the European Union Delegation to the Republic of Armenia, said: "The European Union is committed to supporting initiatives that ensure improved solid waste management in Armenia and in the region. This is our third financial grant to the Armenian Government in this field. I am delighted that following regional initiatives in Kotayk and Vanadzor, we are now providing financial assistance to ensure improved living conditions for the citizens of Yerevan.”
To date, the EIB has signed 11 loans in Armenia totalling EUR 220 million. The portfolio is well diversified across transport, energy and water and waste treatment infrastructure as well as SME support.
The European Investment Bank (EIB) is providing two loans totalling EUR 30.7 million to finance improvement of the quality and reliability of water supply services and the upgrading of wastewater treatment in Armenia. The EIB funds will help to improve the living standards of Armenia’s citizens and contribute to accelerating the social and economic development of the country. The EIB loans will consist of: EUR 25.5 million for the rehabilitation and construction of water and sewage infrastructure in Armenia’s secondary cities and small communities and EUR 5.2 million for the upgrading of water supply infrastructure in selected areas of Armenia’s capital Yerevan and several surrounding villages
The EIB and the Republic of Armenia have signed a grant agreement under the Neighbourhood Investment Facility (NIF) to support the completion of the North-South Road Corridor, a strategic part of Armenia’s transport infrastructure.
Yerevan, the capital city of Armenia, will become a greener and more energy-efficient place thanks to the funding and commitment provided by the EIB. An EIB loan worth EUR 7m will help the Municipality of Yerevan to finance energy efficiency improvements in public buildings. In parallel, a combination of financing and grants by the EIB and international donors will improve solid waste management in the Armenian capital.