Time in Yerevan: 11:07:36,   9 July

European Commission launches €13 billion infrastructure investment project for Eastern Partnership countries, including Armenia

European Commission launches €13 billion infrastructure investment project for Eastern 
Partnership countries, including Armenia

YEREVAN, JANUARY 16, ARMENPRESS. The European Commission and the World Bank have co-authored an Indicative trans-European Transport Network (TEN-T) Investment Action Plan that identifies priority projects in Eastern Partnership countries, including in Armenia, in a bid to boost connectivity and economic growth in the Eastern Partnership (EaP) countries, the European Commission said in a press release.

Armenia, Azerbaijan, Belarus, Georgia, Republic of Moldova and Ukraine are part of the Eastern Partnership.

Together, the projects will require an estimated investment of almost €13 billion and foresee a total of 4800 kilometers of road and rail, 6 ports, and 11 logistics centers, the European Commission said.

Commissioner Johannes Hahn, responsible for European Neighbourhood Policy and Enlargement Negotiations, underlined “The completion of the Indicative TEN-T Investment Action Plan is a joint commitment to deliver tangible results for citizens across the region. The Plan will assist decision-makers in prioritising strategic investments in transport infrastructure with the aim of completing the TEN-T network defined as one of the 20 deliverables for 2020 in the Joint Declaration of the last Eastern Partnership Summit in Brussels.”

Commissioner for Transport Violeta Bulc said: "Enhanced transport connectivity both within the Eastern Partnership region, and between the EaP region and the EU has the potential to bolster economic growth and create job opportunities. The Plan shall also serve to highlight the importance of road safety as well as digital solutions in new projects, and to align design standards with current EU practices."

“The projects included in the investment plan were identified together with the Eastern Partnership countries and with the assistance of the International Financial Institutions. Those projects will make possible the construction and rehabilitation of new and existing roads, rail, ports, airports as well as logistical centres and border crossing points. The priority investments include both short-term projects to be completed by 2020 and long-term projects aiming to improve transport links on the TEN-T by 2030. Along infrastructural investments, the presented investment plan aims to bring forward key reforms for the transport sector and improve road safety in the region. The development of project on the TEN-T is expected to foster regional development through improving access to economic opportunities, harnessing the benefits of industrial agglomeration and increasing market competition.

The completion of the Indicative Investment Action Plan coincides with the entry into force of the extension of the core TEN-T to the Eastern Partnership region”, the commission said.

Edited and translated by Stepan Kocharyan



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