Resilient Syunik Program: €50 million EIB loan agreement signed in Luxembourg

The signing ceremony of the “Armenia – Resilient Syunik Program” financing agreement took place at the European Investment Bank (EIB) Headquarters in Luxembourg, with the participation of Deputy Prime Minister of Armenia Mher Grigoryan and President of the European Investment Bank Nadia Calviño, the government's press service has said in a press release.

The agreement was signed by Armenia’s Minister of Finance Vahe Hovhannisyan and EIB Vice-President Teresa Czerwińska.

The program, which includes a €50 million loan, aims to support the sustainable development of the Syunik region in the Republic of Armenia. The Armenian government will use the funds to promote economic development and improve infrastructure in key sectors such as water supply, healthcare, and education.

The initiative will also help address the needs of displaced persons and host communities residing in Syunik.

Deputy Prime Minister Mher Grigoryan delivered a welcoming speech during the event, expressing gratitude to the EIB for their cooperation in preparing the agreement and wishing for its successful implementation.

“The cooperation between the Armenian government and the Bank contributes to strengthening the Armenia-European Union political dialogue, which has entered a more intensive phase. The expanding partnership agenda is based on shared values of sustainable development, economic growth, and enhancing the resilience of the region,” said Mher Grigoryan.

During his visit to Luxembourg, the Deputy Prime Minister also held meetings with EIB President Nadia Calviño and Vice-President Teresa Czerwińska. The discussions focused on prospects for expanding cooperation and implementing joint programs with the Bank.