ArmInfo. Deputy Minister of Finance of the Republic of Armenia Edgar Mkrtchyan received a delegation from the European Investment Bank (EIB), the press service of the Armenian Ministry of Finance reported.
During the meeting, the parties emphasized the importance of their effective partnership and discussed the progress of ongoing projects in Armenia in transport, energy, water, and other infrastructure sectors with the support of the European Investment Bank. Regarding the opportunities for further development of cooperation, they particularly discussed the current details of co-financing the Caucasus Power Transmission Grid project, as well as a framework loan agreement aimed at enhancing road infrastructure. In conclusion, the Deputy Minister expressed gratitude to the EIB for its continued commitment to expanding cooperation with Armenia within the framework of the Government of the Republic of Armenia's priority programs and for its ongoing support. Both sides agreed to continue their joint efforts to expand and intensify cooperation.
Recall, the Caucasus Transmission Network is a strategic project to connect the regional power systems, specifically the North-South Corridor (Iran-Armenia-Georgia-Russia). The program aims to improve the reliability of power supply, ensure power flows, and strengthen regional integration. New high-voltage transmission lines and substations are being built as part of the program, including the Iran-Armenia transmission line. Armenia plays a key role in this corridor, strengthening its capacity to export and import electricity through network modernization. The project is funded by international organizations, including the EIB.
