European Bank to build a logistics center in Yerevan

The European Bank for Reconstruction and Development (EBRD) will provide 39 million euros to build a logistics center in Yerevan.

The Armenian government approved a decision at its Cabinet session on December 11.

The explanation for this decision states that a loan agreement between Armenia and the EBRD was signed on September 19, under which it is planned to build a customs and logistics center in Yerevan for the needs of the State Revenue Committee of Armenia.

It is planned to allocate a certain amount to Armenia, and it will be directed to the technical support of the project’s implementation as a grant.

The co-funding amount of the respective loan and grant by the Armenian government will be 9 million euros, of which 7.8 million euros will come from the loan.