YEREVAN — The total value of investments being implemented in Armenia by the European Union, through various ongoing programs, is expected to reach €2.5 billion.
EU Ambassador to Armenia Vassilis Maragos announced this during a conversation with journalists in the Syunik region, emphasizing that this represents a major commitment undertaken by the European Union since 2021.
“These are projects that are either already underway or in the preparation phase. For example, the Sisian–Kajaran highway, including the tunnel, is part of these initiatives. These investments are being made through the EU budget, loans taken by the Government of Armenia, and additional investments from other partners under the ‘Resilient Syunik – Team Europe’ initiative,” Maragos explained.
He detailed that the €2.5 billion in investments include the ‘Green Yerevan’ initiative, the acquisition of 87 MAN-brand public transport buses as part of Yerevan’s public transport reform, the renovation of 50 kindergartens in the capital, and major projects aimed at improving electric power transmission lines between Armenia and Georgia. The latter, he noted, is particularly significant for opening Armenia’s electricity market and promoting greener energy initiatives and investments in the country.
“Armenia has great potential for solar power generation through photovoltaic panels. The opening of regional communications—which I hope will occur as part of the peace process—will create many new opportunities. These are not only opportunities for trade but also for the Armenian people, the national economy, and for creating more and better-quality jobs,” the EU Ambassador added.
Maragos underlined that the European Union stands shoulder to shoulder with Armenia, helping the country become more resilient and sovereign. He also highlighted the important role of the EU Monitoring Mission in Armenia in promoting peace in the South Caucasus and supporting the normalization of relations between Armenia and Azerbaijan.
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