A €50 million loan agreement has been signed between Armenia and the European Investment Bank (EIB) to support infrastructure development in Syunik province, as announced by Armenia’s Ministry of Economy.
The Armenian delegation, led by Deputy Prime Minister Mher Grigoryan, held meetings in Luxembourg with key EU officials including Luxembourg’s Deputy Prime Minister and Foreign Minister Xavier Bettel, European Commission Executive Vice President Rafael Fitó, Director General for Neighbourhood and Enlargement Negotiations Gert Jan Koopman, and EIB President Nadia Calviño and Vice-President Teresa Czerwińska.
The meetings focused on launching a new phase of political dialogue between Armenia and the EU. Topics included enhancing cooperation, the progress of the Armenia-EU Comprehensive and Enhanced Partnership Agreement (CEPA), further steps on visa liberalization, digital transformation efforts, and the implementation of joint initiatives under the EU’s Resilience and Growth Plan.
Discussions also highlighted the need to expand Armenia-EU economic and trade ties, emphasizing trade diversification, quality infrastructure improvement, and investment project development. Special attention was paid to Armenia’s involvement in regional initiatives, particularly within the EU’s strategic framework for the Black Sea region. Deputy PM Grigoryan presented the Armenian government’s Crossroads of Peace concept, outlining its economic and regional impact and alignment with the EU’s Global Gateway strategy and sustainable development goals.
The signing ceremony for the “Resilient Syunik in Armenia” project took place at the EIB’s headquarters. The agreement was signed by Armenia’s Finance Minister Vahe Hovhannisyan and EIB Vice-President Teresa Czerwińska. The project aims to advance Syunik’s economy and rehabilitate infrastructure, including water supply, healthcare, and education, while addressing the needs of displaced persons and host communities, and fostering improved living conditions.
