EBRD funds customs and logistics centre in Syunik

ArmInfo. The European Bank for Reconstruction and Development (EBRD) is lending EUR10 million to  Armenia to finance the construction of a customs and logistics centre  in the Syunik region. The Bank will also provide a EUR2 million  investment grant via its Shareholder Special Fund to co-finance the  project, the bank's press service reports.

The country's new logistics and customs centre will enhance the  efficiency of customs clearance services and help meet increased  demand amid a recent rise in trade volumes. It aims to provide a  one-stop shop that can significantly reduce processing times,  facilitating turnover to the benefit of private-sector users. What is  more, the centre will be built to international energy efficiency  standards and be one of the country's first public structures to  qualify as a "green building".  The loan and grant agreements were  signed today by Minister of Finance of Armenia Vahe Hovhannisyan and  EBRD Vice President Matteo Patrone at the EBRD Annual Meeting and  Business Forum in Yerevan. 

The project is part of the EBRD's Refugee Crisis Response and  includes an integration programme for refugees. The programme,  supported by the TaiwanBusiness-EBRD Technical Cooperation Fund, will  assist up to 150 refugees in obtaining the skills and certifications  they need to become qualified candidates for employment in customs  and logistics in Armenia's public and private sectors. 

Importantly, the new customs centre in Syunik will align with plans  for a new Sisian to Kajaran road to enhance connectivity between the  Syunik region and Yerevan.  The EBRD remains committed to developing  Armenia's logistical infrastructure to enhance its trade and regional  connectivity.

The EBRD is one of the largest institutional financiers in Armenia.  Over the past five years, the Bank has invested EUR640 million in the  country, supporting private-sector development, infrastructure  enhancement, renewable energy generation and rural digitalisation.   To date, the EBRD has invested more than EUR2.1 billion in 211   projects across Armenia.