Armenia has finalized a €100 million loan agreement with France to fund the construction and modernization of its irrigation infrastructure, the authorities confirmed.
Seventy percent of the funds will go toward co-financing a World Bank loan program, with one-third allocated to upgrading irrigation systems in the Syunik region. The project includes rebuilding the system and replacing pumps with gravity-fed alternatives to cut energy use.
The loan will be issued for 22 years with a floating interest rate. Additionally, Armenia will receive a €12.5 million grant from the European Union to cover technical consultations.
