The government will take out a €70 million loan to improve water supply

The government will take out a €70 million loan to ensure improved water supply, Chairman of the Water Committee Aramazd Ghalamkaryan said while presenting the draft agreement at a National Assembly committee meeting.

He noted that the agreement is between the Republic of Armenia and the International Bank for Reconstruction and Development for the first phase of the Armenia Water and Irrigation Services Improvement Program. The program aims to modernize and reform Armenia’s irrigation as well as water supply and sanitation sectors.

“I consider it necessary to note that the program will be co-financed by the French Development Agency in the amount of another €70 million and by the Government of Armenia in the form of taxes, duties, and other payments.

The program is multi-phased and planned for five years. If successfully implemented, there will also be a second phase. In monetary terms, the first phase will total $185 million and the second $250 million. The agreement has received the approval and positive conclusion of the Constitutional Court,” he noted.