YEREVAN (Armenpress) — The ongoing investments by the European Union in Armenia, implemented through various programs, are ultimately expected to reach 2.5 billion euros, the head of the EU Delegation to Armenia Vassilis Maragos said on Friday, October 17.
Maragos described the investments as a “significant commitment that the European Union has undertaken since 2021.”
“These are projects that are either already being implemented or are in the preparation phase. For example, the Sisian-Kajaran highway, including the tunnel, is part of these initiatives. These are investments we are making through the EU budget, in the form of loans taken by the Government of Armenia, as well as investments from other partners within the framework of the “Resilient Syunik – Team Europe” initiative,” he said at a press briefing in Syunik province.
He elaborated that the €2.5 billion in investments include the “Green Yerevan” initiative, the purchase of 87 MAN-brand buses as part of Yerevan’s public transport reform, the renovation of 50 kindergartens in the capital, as well as investments aimed at improving power transmission lines between Armenia and Georgia — a project that is “crucial for opening up Armenia’s electricity market and enabling more green energy initiatives and investments in the country.”
“Armenia has tremendous potential in the field of electricity generation through solar photovoltaic panels, and the opening of regional connections — which will hopefully take place within the framework of the peace process — will create numerous new opportunities. These are not just opportunities for business; they are opportunities for the Armenian people, for Armenia’s economy, and for the creation of more and better-quality jobs,” the EU Ambassador said.
Maragos emphasized that the European Union stands shoulder to shoulder with Armenia to help the country become “more resilient and more sovereign.”
