EU, World Bank to Allocate Over €730 Million for Projects in Armenia

By Sareen Habeshian

The European Union and the World Bank will allocate roughly 13 billion euros to implement a number of large-scale infrastructure projects in six Eastern Partnership (EaP) member states – Armenia, Azerbaijan, Georgia, Ukraine, Moldova and Belarus.

The EaP is a joint policy initiative, which aims to deepen and strengthen relations between the EU, its member states and its six Eastern Partnership neighbours.

The project, called Indicative TEN-T Investment Action Plan, will fund freeways, railroads, ports, intelligent transport systems, aviation and logistics centers, according to an EU report.

More than 732 million euros will be allocated to Armenia for a total of six projects, including 450 million euros for the construction of the Artashat-Agarak corridor; 41 million euros for the Gyumri-Bavra corridor; 7.5 million euros for the reconstruction of the Yerevan-Vanadzor highway; and 15 million euros for the Meghri border crossing point.

The projects in the plan have been created jointly with the Eastern Partnership countries and with the support of international financial institutions.

“Enhanced transport connectivity both within the EaP region, and between the EaP region and the EU has the potential to bolster economic growth and create job opportunities for citizens,” said European Commissioner for Transport Violeta Bulc and European Commissioner for European Neighbourhood Policy and Enlargement Negotiations Johannes Hahn, in a joint statement.

The project serves to highlight the importance of road safety and digital solutions, and to align design standards with current EU practices.