The EFSD and Armenia’s Ministry of Territorial Administration and Infrastructure strengthen cooperation on infrastructure projects
A delegation from the Eurasian Fund for Stabilization and Development (EFSD), led by Armen Poghosyan, Director of the Infrastructure and Social Finance Department, paid a working visit to Armenia’s Ministry of Territorial Administration and Infrastructure
The EFSD and Armenia’s Ministry of Territorial Administration and Infrastructure strengthen cooperation on infrastructure projects
A delegation from the Eurasian Fund for Stabilization and Development (EFSD), led by Armen Poghosyan, Director of the Infrastructure and Social Finance Department, paid a working visit to Armenia’s Ministry of Territorial Administration and Infrastructure.
The parties discussed ongoing and potential infrastructure projects supported by the EFSD. Particular attention was given to the construction of the fourth stage of the North–South Road Corridor, specifically the Kajaran–Agarak section leading to the Kajaran Tunnel. Davit Khudatyan, Armenia’s Minister of Territorial Administration and Infrastructure, noted the significant progress made and the high pace of implementation. The project is expected to nearly halve the length of the route, raise the average traffic speed to 80 km/h and significantly enhance regional connectivity, thereby strengthening economic ties and boosting the country’s transit potential.
The project is jointly financed by the EFSD and the Government of Armenia. The EFSD’s total investment in the North–South initiative amounts to approximately US $350 million.
The Minister also acknowledged the EFSD’s technical assistance in assessing the condition of bridges in the Lori Region following the 2024 floods, underlining the importance of a prompt response and a comprehensive approach to infrastructure rehabilitation.
The parties reaffirmed their commitment to deepening their strategic partnership and highlighted major achievements in the joint implementation of projects aimed at enhancing the sustainability and efficiency of Armenia’s water resources. These include the construction of the Mastara Reservoir and the modernisation of irrigation systems.
The EFSD is currently implementing more than ten major projects in Armenia, with total investment reaching approximately US $540 million. The focus is on transport infrastructure and the water sector. These initiatives contribute to Armenia’s sustainable development and regional integration.
The Eurasian Fund for Stabilization and Development (EFSD) is a regional financing arrangement totalling over US $9 billion, established in 2009 by the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan. The EFSD aims to promote economic and financial stability in its member states and support their sustainable development.