The European Bank for Reconstruction and Development (EBRD), the Ministry of Finance of Armenia and the Municipality of Yerevan have signed an agreement for a co-financing grant of €1.9 million to support the modernisation of street lighting in Yerevan.
The grant is provided by the E5P fund (Eastern Europe Energy Efficiency and Environment Partnership), which is managed by the EBRD and pools donor contributions from the EU and a number of donor countries including Armenia.
In May 2015, the EBRD committed a €3.7 million loan to modernise Yerevan’s street lighting system by introducing new energy-efficient technologies. The grant will now help to make the lighting more efficient and environmentally friendly. The new LED lighting is expected to cut the cost of energy consumption by 64 per cent.
The E5P is a multi-donor fund operating in the Eastern Partnership countries of Armenia, Georgia, Moldova and Ukraine. The EU is the largest overall contributor to E5P with committed funds of €70 million. (EU Neighbourhood Info)
Solid waste management in Armenia gets boost from EIB
The project concerns the construction of a sanitary landfill, closure of the existing landfill and the implementation of waste diversion measures, serving a population of 1.9 million.
“This is the first EIB loan supporting solid waste management in the Eastern Partnership region,” said EIB Vice-President László Baranyay. “It concerns key social infrastructure, highly relevant for the quality of life and health conditions of almost two million people.”
The project is co-financed by an €8 million European Bank for Reconstruction and Development (EBRD) loan with a €1.9 million technical assistance grant, and an €8 million grant from the EU Neighbourhood Investment Facility (NIF). The EIB will provide €17 million in total to support the project, the €8 million loan signed today representing only the support for the first phase of the project. (EU Neighbourhood Info)