07 August 2012, 23:00
European Investment Bank to grant loan to Armenia for modernization of border checkpoints
Today, the Government of Armenia and the European Investment Bank signed banking agreements on granting loan in the amount of 37 million euros for the modernization of checkpoints on the border with Georgia and for reconstruction of water treatment facilities.
The loan in the amount of 30.316 million euros will be directed to the modernization of the checkpoints "Bagratashen", "Gogavan", and "Bavra" on the border with Georgia, and 6.5 million euros for the modernization and reconstruction of water treatment facilities in 17 dwelling settlements of the Tavush, Lori, Shirak, Gegarkunik, Kotaik, Syunik and Vaiots Dzor Regions.
Another 6.5 million euros will be granted to Armenia under the programme for the development of water infrastructure of small communities of Armenia. "As a result of the programme implementation, about 300,000 persons will use more clean and high quality water," said Vache Gabrielyan, Minister of Finance, who signed the agreement from the Armenian side.
According to the Minister, the project on the modernization of the checkpoint involves the installation of the modern equipment, enhancement of border security, etc.
The programmes on the modernization of the borders and water infrastructure of a number of communities are promoted by the European Bank for Reconstruction and Development (EBRD), the European Investment Bank, and the European Union.
Author: Lilit Ovanisyan Source: CK correspondent
