Parliament approves euro 5.5 million loan agreement signed with EBRD for implementation of modern solid waste management solutions
30.06.2016,
15:05
Armenian parliament has approved today a loan agreement to the tune of €5.5 million, signed with the European Bank for Reconstruction and Development (EBRD) for implementation of modern solid waste management solutions in Kotayk and Gegharkunik regions.
YEREVAN, June 30. /ARKA/. Armenian parliament has approved today a loan agreement to the tune of €5.5 million, signed with the European Bank for Reconstruction and Development (EBRD) for implementation of modern solid waste management solutions in Kotayk and Gegharkunik regions.
The agreement was endorsed by 88 lawmakers. Nine MPs voted against and another 12 abstained from voting.
The loan amount consists of a previously signed €3.5 million and a newly added €2 million EBRD sovereign loan. The additional €2 million will enable the geographic coverage of the Kotayk Solid Waste Management Project to be extended to the adjacent Gegharkunik region. The project will finance the construction of Armenia’s first European Union (EU) compliant solid waste landfill, providing an integrated solid waste management solution in the Kotayk and Gegharkunik regions.
The new landfill will be located in the city of Hrazdan in Kotayk province and managed by twelve participating municipalities – Hrazdan, Abovyan, Charentsavan, Tsakhkadzor, Byureghavan, Yeghvard, Nor Hachn, Sevan, Martuni, Gavar, Vardenis and Chambarak. It will operate as a commercially sustainable unit with modern solid waste management systems, covering the collection and disposal of municipal solid waste. The provision of this service will generate major environmental and social benefits for some 500,000 people in the area.
This loan is generously complemented by capital grant financing of €5.5 million, consisting of a €3.5 million grant provided by the European Union Neighborhood Investment Facility (EU NIF) and a €2.0 million grant secured from the Eastern Europe Energy Efficiency and Environment Partnership (E5P) fund.
This project has received additional grant financing from several donors. The Austrian government will support the implementation of the project and the corporate development of the landfill management company. The remaining grant funds are contributed from the EBRD’s Shareholders’ Special Fund and the Early Transition Countries Fund.
As of April 2016 the EBRD has invested over €1 billion in 148 projects in the country’s financial, corporate, infrastructure and energy sectors, with 87 per cent of investments being in the private sector since the start of its operations in Armenia in 1992,. ---0---
The agreement was endorsed by 88 lawmakers. Nine MPs voted against and another 12 abstained from voting.
The loan amount consists of a previously signed €3.5 million and a newly added €2 million EBRD sovereign loan. The additional €2 million will enable the geographic coverage of the Kotayk Solid Waste Management Project to be extended to the adjacent Gegharkunik region. The project will finance the construction of Armenia’s first European Union (EU) compliant solid waste landfill, providing an integrated solid waste management solution in the Kotayk and Gegharkunik regions.
The new landfill will be located in the city of Hrazdan in Kotayk province and managed by twelve participating municipalities – Hrazdan, Abovyan, Charentsavan, Tsakhkadzor, Byureghavan, Yeghvard, Nor Hachn, Sevan, Martuni, Gavar, Vardenis and Chambarak. It will operate as a commercially sustainable unit with modern solid waste management systems, covering the collection and disposal of municipal solid waste. The provision of this service will generate major environmental and social benefits for some 500,000 people in the area.
This loan is generously complemented by capital grant financing of €5.5 million, consisting of a €3.5 million grant provided by the European Union Neighborhood Investment Facility (EU NIF) and a €2.0 million grant secured from the Eastern Europe Energy Efficiency and Environment Partnership (E5P) fund.
This project has received additional grant financing from several donors. The Austrian government will support the implementation of the project and the corporate development of the landfill management company. The remaining grant funds are contributed from the EBRD’s Shareholders’ Special Fund and the Early Transition Countries Fund.
As of April 2016 the EBRD has invested over €1 billion in 148 projects in the country’s financial, corporate, infrastructure and energy sectors, with 87 per cent of investments being in the private sector since the start of its operations in Armenia in 1992,. ---0---
