EU-Armenia Investment Coordination Platform discusses key infrastructure projects and investments cooperation

Economy 28 February, 2024 22:33

The second meeting of the EU-Armenia Investment Coordination Platform co-chaired by Mher Grigoryan, Deputy Prime Minister of the Republic of Armenia, and Adrienn Kiraly, Director for Neighbourhood East & Institution Building at the European Commission, took place today at the Government House, Grigoryan's office said in a readout.

The platform brings together the Government of the Republic of Armenia, the European Union (EU), and international financial institutions (IFIs) to facilitate investments in Armenia, promoting sustainable development and economic growth, in the context of the EU’s Economic and Investment Plan (EIP) and its flagships for Armenia,

According to the source, the meeting discussed important infrastructure investments that will improve Armenia’s connectivity, energy diversification and housing schemes for refugees. The participants took stock of the progress of the various infrastructure projects such as the Caucasus Transmission Network and the Sisian-Kajaran road section linking it to the Crossroads of Peace initiative and collectively identified technical and financial barriers that need to be addressed in order to facilitate the timely and efficient implementation of these projects. Follow-up actions and concrete timeline on next steps were also agreed among stakeholders in order to ensure swift implementation of the EIP investments.

It is noted that the meeting concluded with a commitment to continued cooperation in the context of the platform and the exploration of further investment opportunities in Armenia.