EU-Armenia Investment Coordination Platform discusses key infrastructure projects and investment cooperation
February 29, 2024

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

The second meeting of the EU-Armenia Investment Coordination Platform took place today in Yerevan, Armenia. It was co-chaired by Mher Grigoryan, Deputy Prime Minister of the Republic of Armenia, and Adrienn Kiraly, Director for Neighbourhood East and Institution Building at the European Commission, visiting Armenia this week.

The platform brings together the Armenian government, the European Union, 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.

The meeting discussed important infrastructure investments that will improve Armenia’s connectivity, energy diversification and housing schemes for refugees. 

Participants analysed the progress of various infrastructure projects, such as the Caucasus Power Transmission Network and the Sisian-Kajaran road section linking it to the Crossroads of Peace initiative (a regional transport net that would connect Turkey, Azerbaijan, Iran, and Georgia through Armenia). They also identified technical and financial barriers that need to be removed for the effective implementation of these projects.

“We aim to move faster, overcome challenges and boost investment,” Adrienn Kiraly wrote on X after the meeting. “The EU Economic and Investment Plan has so far mobilised €550 million of investment in Armenia.”

The participants also agreed on follow-up actions and concrete timeline on next steps.

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