EBRD allocates 12 million euros to Armenia

The European Bank for Reconstruction and Development (EBRD) is lending 10 million euros to Armenia to finance the construction of a customs and logistics center in the Syunik region, the EBRD said in a statement, Report informs.

The Bank will also provide a 2 million euro investment grant via its Shareholder Special Fund to co-finance the project.

“The country’s new logistics and customs center will enhance the efficiency of customs clearance services and help meet increased demand amid a recent rise in trade volumes. It aims to provide a one-stop shop that can significantly reduce processing times, facilitating turnover to the benefit of private-sector users,” the EBRD said.