Economy

50 million AMD allocated from Yerevan budget to flood-affected Alaverdi

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50 million AMD allocated from Yerevan budget to flood-affected Alaverdi

YEREVAN, JUNE 25, ARMENPRESS. In the 5th session, the Yerevan Council of Elders voted in favor of the city's proposal to allocate 50 million AMD from the reserve fund of the 2024 budget to the Alaverdi community. That money will be directed to the implementation of subsidy programs in Alaverdi, which was affected by the flood in May.

This initiative previously received positive approval from the Standing Committee on Financial-loan and Economic issues of the Yerevan Municipality.

LusineGevorgyan, a member of the "Civil Contract" party of the Yerevan Council of Elders, presented the project to the session delegates. She mentioned that Yerevan, always standing by the other sister communities of the country and guided by the relevant provisions of the law "On Local Self-Government in the City of Yerevan", extends a helping hand to Alaverdi.

"To allocate 50 million AMD from the reserve fund of the administrative part of the 2024 budget of the city of Yerevan under the article "Other capital grants for the classification of budget expenditures". The decision comes into force on the day following its official publication. This amount will be allocated to the Alaverdi community, allowing them to apply to the Government of the Republic of Armenia for matching funds. By assuming the obligation of the subsidy program, this amount can be doubled or increased up to 70 million AMD to implement capital expenses", it is stated in the decision approved by the delegates of the session.

As a result of the floods caused by the heavy rains on May 25-26, significant damage was inflicted on the Lori and Tavush regions, which were recognized as disaster zones by the decision of the Government of the Republic of Armenia on May 27.

 

AREMNPRESS

Armenia, Yerevan, 0002, Martiros Saryan 22

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