ArmInfo. Armenia will receive grant funds from the European Investment Bank (EIB) for the implementation of the second energy efficiency program in Yerevan. On January 9, the government approved the draft on ratification of the relevant agreement with the EIB on an investment grant.
As stated in the explanatory note to the document, the document was signed on November 12, 2024. The goal of the project is to reduce the energy consumption of buildings and support energy efficiency and renewable energy measures, which will include the necessary work to improve the general technical condition of clinics and kindergartens.
The total cost of the project is 38 million euros, which will be financed from the following sources: EIB loan funds - 25 million euros, grant funds from the EU Neighborhood Investment Program - 10.1 million euros, technical support from the European Union Neighborhood Investment Program - 650,000 euros, other expenses under the European Union Neighborhood Investment Program - 250,000 euros. The Yerevan Municipality's own funds will amount to 2 million euros.
As a result, the capital's administration hopes to reduce energy costs, increase seismic safety, improve the comfort and quality of life of tourists, reduce CO2 emissions and extend the service life of renovated buildings.
In general, as a result of the Project's implementation, it will be possible to reduce the energy consumption of about 38 public buildings (6 clinics and 32 kindergartens) by about 65%.
between the Republic of Armenia and the European Investment Bank does not contain provisions providing for financial obligations for the Republic of Armenia>, the document says.
