EU Investments in Armenia Will Reach 2.5 Billion Euros

The investments by the European Union in Armenia, which are already underway through various programs, will ultimately amount to 2.5 billion euros. This was stated by Vassilis Maragos, the EU Ambassador to Armenia, in a conversation with reporters in the Syunik province, emphasizing that this is a very important commitment that the EU has undertaken since 2021.

"These are projects that are either being implemented or are in the preparation phase. For example, the highway from Sisian to Kajaran, along with the tunnel, is part of these initiatives. These are investments that we are making from the EU budget, in the form of loans taken by the Armenian government, as well as investments made by other partners within the framework of the 'Resilient Syunik, Team Europe' initiative," he said.

The Ambassador detailed that the 2.5 billion euros in investments include the 'Green Yerevan' initiative, the acquisition of 87 MAN buses as part of the reforms in Yerevan's public transport, the renovation of 50 kindergartens in Yerevan, as well as investments aimed at improving electricity transmission lines between Armenia and Georgia, which is crucial for opening up the Armenian electricity market to enable more green energy initiatives and investments in the country.