The Yerevan Municipality and the European Investment Bank (EIB) signed in Yerevan a 7 million euro agreement. The agreement was signed by Yerevan Mayor Taron Margaryan and EIB Vice-President Vazil Gudak. The EIB loan will be used to improve the energy efficiency of public buildings, especially kindergartens, run the municipality. As a result, the financial costs of energy services, as well as carbon dioxide emissions are expected to reduce.
Apart from the EIB loan of 7 million euros, the Eastern Europe Energy Efficiency and Environment Partnership (E5P) will provide a grant of 5 million euros, and the Green Climate Fund will provide a grant of 1 million euros.
On the same day, the Yerevan Municipality and EIB signed another agreement whereby the EIB will provide the municipality with 2 million euro grant for the implementation of the Yerevan Solid Waste program. The first component of the project calls for the construction of the first two zones of a new sanitary landfill and supporting infrastructures. It will be located 12 kilometers off Yerevan, close to the existing Nubarashen landfill. The new facility is supposed to reduce the negative impact of the existing landfill on the environment, the public health and the climate.
The second component of the program includes the closure of the existing landfill and the resumption of its operation after the commissioning of the new landfill. The third component will contribute to the preparation and implementation of those systems and facilities that will increase the processing volumes and the useful life of the new landfill.
The money for this project is to come from EIB (8 million euro loan), EBRD (8 million euro loans), European Union (8 million euro grant) and the Eastern Europe Energy Efficiency and Environment Partnership (2 million euro grant).
