Armenia Secures 50M-Euro-Loan from European Investment Bank for Syunik Development

11 Sep, 13:05
Armenia

The Armenian government has approved a 50-million-euro-loan agreement with the European Investment Bank (EIB) to support the development of the Syunik region.

Under the project, the funds will be used to upgrade water supply systems, healthcare facilities, and educational infrastructure in local communities, The Caspian Post reports via Armenian media.

The initiative will also support energy efficiency projects in the same areas.

The loan will have a term of up to 20 years, while the project is expected to be implemented over five years.

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Armenia Secures 50M-Euro-Loan from European Investment Bank for Syunik Development

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The Armenian government has approved a 50-million-euro-loan agreement with the European Investment Bank (EIB) to support the development of the Syunik region.