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Treaty on providing a grant within the frames of solid wastes management of Yerevan has been signed

01.12.2017

The Treaty on providing the 2 million euro grant from the Regional Fund of Eastern Europe Energy Efficiency and Environment Partnership (E5P) was signed within the frames of “Solid wastes of Yerevan” between the Republic of Armenia and the European Investment Bank (EIB). The procedure was held on December 1 in the RA Ministry of Finances.
The Treaty was signed by the RA Minister of Finances Vardan Aramyan and the Vice President of the European Investment Bank Vazil Hudak.
Yerevan Mayor Taron Margaryan and the Director of E5P Fund in EBRD Eva Manik were present at the ceremony too.
The program will promote improvement of the system of solid wastes management in Yerevan through three components. The first component is the construction of the first two zones of a new sanitary dump and supporting infrastructure. The new dump which is to be located not far from the dump in Nubarashen and in 12 km away form the center of Yerevan will reduce negative impact to the environment, public health and climate.
The second component includes closure of the current dump and carrying out of restoration activities after putting the new dump into operation.
The third component will promote preparation and installation of such systems and objects which will increase the volumes of recycling by means of prolongation of the usage time of the new dump.
The grant means within the scope of the Treaty are supposed to be directed to financing of the second component of the program.
The financing of the program is to be fulfilled the following way: 8 million euro loan from the European Investment Bank (EIB), 8 million euro loan from the European Bank for Reconstruction and Development (EBRD), 8 million euro from the European Union through Partnership Investment Fund; 2 million euro grant is to be disbursed from E5P Fund.

 


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