Member countries: 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.

Contacts

Ministry of Finance of the Republic of Armenia
Central Bank of the Republic of Armenia
EFSD in Yerevan:

26/1 Sargsyan Street
Business Centre “Erebuni-Plaza”,
8th Floor, Office 811
Yerevan, 0010 Republic of Armenia

Tel.: +374 (10) 54 01 02
Fax: +374 (10) 54 13 52

Electronic Labour Exchange Signed Grants
In the framework of the 2nd competition for EFSD grants for social projects, the EFSD Council adopted its decision of 27 December 2021 on providing US $0.5 million to support the project “Electronic Labour Exchange” (hereinafter referred to as the Project) to be implemented by the Republic of Armenia
Energy efficient regions: activating instruments of public buildings’ energy efficiency increase and promoting «green energy» development Signed Grants
In the framework of the 2nd competition for EFSD grants for social projects, the EFSD Council adopted its decision of 27 December 2021 on providing US $1.7 million to support the project “Energy efficient regions: activating instruments of public buildings’ energy efficiency increase and promoting «green energy» development” (hereinafter referred to as the Project) to be implemented by the Republic of Armenia
Improving Preparedness for the COVID-19 Pandemic in the Republic of Armenia: Detection and Response to Threats Posed by the Coronavirus Signed Grants
Within the framework of an extraordinary competition for grants from the funds of the EFSD for the purpose of combating and responding to the consequences of COVID-19 for the financing of social projects, the EFSD Council approved the proposed funding (decision dated 7 July 2021) of the project “Improving Preparedness for the COVID-19 Pandemic in the Republic of Armenia: Detection and Response to Threats Posed by the Coronavirus” in the Republic of Armenia (hereinafter - the Project) in the amount of US$ 3 million
Improving Prevention and Control of Noncommunicable Diseases in Primary Health Care Signed Grants

In the framework of the 1st competition for EFSD grants for social projects, the Fund’s Council adopted its decision of 28 February 2018 on providing US $1 million to support the project “Improving Prevention and Control of Noncommunicable Diseases in Primary Health Care” (hereinafter referred to as the Project) to be implemented by the Republic of Armenia

Construction of Mastara Reservoir in Armenia Approved concept note Investment credit

On 9 December, 2015 the Fund Council endorsed the preliminary application and concept of the investment project in Armenia “Construction of Mastara Reservoir” for US$ 30.5 million with a proposed funding by the Fund in the amount of US$ 25.2 million.

Budget support credit to Armenia Completed Financial credit

EFSD Council approved a budget support credit in the amount of 300 million dollars by three equal tranches during 2015-2017 to the Republic of Armenia by its decision as of October 29, 2015.

Construction of the North-South Road Corridor in Armenia Signed Investment credit

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

Irrigation System Modernization Project in Armenia Signed Investment credit

In 6 June 2013, the Fund’s Council approved the preliminary application and Concept Note for the investment project on Irrigation System Modernization and Institutional Capacity Building in Armenia in the amount of US $50 million, with the anticipated contribution of the Fund of US $40 million.


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2021