Armenia, EIB sign agreement within Syunik region development program

Armenia and the European Investment Bank (EIB) have signed an agreement in Luxembourg to finance the Armenia – Sustainable Syunik program, Report informs referring to Armenian media.

The agreement was signed by Armenian Finance Minister Vahe Hovhannisyan and EIB Vice President Teresa Czerwinska.

The program, envisaged by the loan agreement in the amount of 50 million euros, will contribute to the development of the Syunik region and will be aimed at the economic development of the region and the improvement of infrastructure in the areas of water supply, healthcare, and education.

The program will also help meet the needs of displaced persons and host communities settled in the Syunik region and ensure decent living conditions.