The Armenian Water and Sewerage Company will use the funds to finance the rehabilitation of water and wastewater networks, and will complete the construction of two wastewater treatment plants.
The water and wastewater management project will reduce water leakages and improve drinking water availability for about 300,000 residents.
In addition to the EBRD’s funding, the project will also receive a EUR7m grant from the European Union Neighbourhood Investment Facility to implement further capital investments.
The project will further receive up to EUR2m in technical cooperation grants from several donors.
The Canadian Government has contributed EUR200,000 to assist AWSC in preparing an investment program.
The remaining grant funds are contributed from the EBRD’s Neighbourhood Investment Facility, the Shareholders’ Special Fund and the ETC Fund.
These funds will be used to assist AWSC with the development of a program for commercialization and organizational improvements of the company, as well as to support the implementation of the investment program.
