The European Bank for Reconstruction and Development (EBRD) marked a record-breaking year in Armenia, with investments totaling €396 million across 19 projects in 2024. These initiatives spanned critical areas, including road infrastructure, energy security, SME support, and refugee integration.
In 2024, the EBRD signed its largest-ever project in Armenia, the “Sisian-Kajaran Road Project,” aimed at enhancing domestic and international connectivity. The bank also invested in green development bonds to modernize telecommunications infrastructure and launched the “Refugee Response Program,” which facilitated refugee integration into the labor market while strengthening Armenia’s social infrastructure.
The EBRD provided €125 million in credit lines to six partner banks and one leasing company to support SMEs. These funds, combined with grants from the EU, Sida, and the Green Climate Fund (GCF), aimed to enhance business competitiveness and energy efficiency. The bank also allocated €12 million for the construction of a customs and logistics hub in Syunik, designed to streamline trade procedures for Armenian businesses and integrate refugees into the workforce.
The year also saw the completion of the Masrik Solar Power Plant, funded by the EBRD, IFC, and local banks. The plant, now connected to Armenia’s energy grid, strengthens the country’s energy security while reducing reliance on imported fuels.
The EBRD supported the TUMO Center for Creative Technologies by mobilizing donor funding for refugee training programs. The bank also financed the construction of the EU-TUMO Convergence Center, aimed at fostering technological skills development.
The EBRD continued to boost Armenia’s economic development by enhancing local capital markets and stabilizing the financial system. The total EBRD investment in Armenia has now reached €2.6 billion, with 84% directed to the private sector.