Republic Armenia

Аrmenia is the EFSD founding state:

• Armenia’s contribution to the EFSD is US$1 million;
• Armenia’s access limit in the EFSD is US$1211 million (13% of total assets of the Fund).

The authorized representative of Armenia in the Council of the Fund is the Minister of Finance of the Republic of Armenia Vahe Hovhannisyan

The member of the EFSD Expert Council from Armenia is the Head of International Cooperation Department, Ministry of Finance of the Republic of Armenia  – Argam S. Aramyan.

Armenia is member of the Eurasian Economic Union since 2 January 2015.

On 2 July 2014 the EFSD Council decided to provide investment loan to Armenia  to finance the Construction of the North-South Road Transport Corridor (Phase 4) project in the amount 150 US$ million. 

On 26 June 2013 the EFSD Council approved preliminary requests and Concept Notes for two investment projects: the Construction of the North-South Road Transport Corridor (Phase 4) in the amount of US$ 100 million and the Modernization and Development of Institutional Capacity of Irrigation Systems in the amount of US$ 40 million. Project documentation is available here. The EDB carries out analytical work on the social and economic development of Armenia.

In October 2015 the EFSD Council approved a US$300 million Budget support credit to Armenia. As of the current date US$ 100 million of it was disbursed.