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    Reference: 20180581
    Release date: 30 October 2019

    Promoter – Financial Intermediary




    The project will finance the rehabilitation in municipal buildings, particularly kindergartens and polyclinics, across the capital city of Armenia.


    Financing aims to improve energy efficiency, as well as seismic safety and accessibility for disabled people, especially children.


    • Services - Public administration and defence; compulsory social security

    Under Global Europe NDICI guarantee

    Under EFSD+ Guarantee

    Proposed EIB finance (Approximate amount)

    EUR 35 million

    Total cost (Approximate amount)

    EUR 37 million

    Environmental aspects

    This operation will bring environmental benefits, by supporting projects that reduce energy consumption in public buildings, thus helping to mitigate climate change. Given the scale, location and nature of the schemes in built-up urban areas, environmental impact assessment (EIA), as defined in the EIA Directive 2011/92/EU, should normally not be required. Compliance with the Bank's environmental and social standards will be further assessed during appraisal.


    The Bank will require the municipality of Yerevan to ensure that implementation of the project is done in accordance with the Bank's Guide to Procurement.


    Signed - 29/11/2023


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Armenia Services