The initial meeting-discussion of the issues related to the program of energy efficiency in Yerevan has been held in Yerevan City Hall. Yerevan Deputy Mayor Vahe Nikoyan, representatives of the European Investment Bank, of the UNDP and consulting company LDK as well as heads of corresponding subdivisions of Yerevan Municipality took part in the meeting.
The program is to be carried out within the frames of the treaty signed between Yerevan Municipality and the European Investment Bank at the end of 2017. It should be noted that by means of the loan of 7 mln euro and the grant of 6 mln euro a number of municipal buildings will be repaired, the programs aimed at energy saving will be realized as well as seismic fortification of the buildings will be provided. As a result the costs of energy of public buildings will be reduced and the CO2 emissions will be reduced too. In parallel with Yerevan energy efficiency increase program Yerevan Municipality will carry out the rest activities of capital overhauling.
The issues related to the schedule of the program fulfillment, organization of the activities, holding tenders and making the list of the buildings to be included in the program were discussed during the meeting.
Stressing the importance of the program Vahe Nikoyan noted that its realization witnesses once again that Yerevan is a reliable partner for international organizations.
“I’d like to outline that the international rating agency Fitch ratings in 2017 re-considered and increased Yerevan’s rating to “B+” level from “Stable” to “Positive” which is an important achievement for the community taking first steps to holding independent credit policy. Fitch Ratings considers this fact as a positive change in Yerevan credit worthiness. Yerevan Municipality attaches importance to cooperation expansion with the European Investment Bank in various spheres of urban economy”, said the Deputy Mayor adding that the program of Yerevan energy efficiency corresponds to the five-year program of Yerevan development provided for 2018-2022 within the frames of which kindergartens will be completely renovated.
The representative of the European Investment Bank Philip Wanderput in his turn noted that Yerevan is a reliable partner for EIB and the program of energy efficiency is n important step for the city.
It was outlined that within the frames of “Reduction of risks and expansion of the volumes of investments into modernization of energy efficiency buildings” program financed by the Green Climate Fund the UNDP will provide technical assistance to fulfil the program of Yerevan energy efficiency increase.

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Department of the City Hall of Yerevan