Finance Ministry, EIB discuss details of co-financing  Caucasus Power  Transmission Grid project

ArmInfo.  Deputy Minister of Finance of the Republic of Armenia Edgar Mkrtchyan received a delegation from the European Investment Bank (EIB), the press service  of the Armenian Ministry of Finance reported.

During the meeting, the parties emphasized the importance of their  effective partnership and discussed  the progress of ongoing projects  in Armenia in  transport, energy, water, and other infrastructure  sectors with the support of the European Investment Bank. Regarding  the opportunities for further development of cooperation, they  particularly discussed the current details of co-financing the  Caucasus Power Transmission Grid project, as well as a framework loan  agreement aimed at enhancing road infrastructure.  In conclusion, the  Deputy Minister expressed gratitude to the EIB for its continued  commitment to expanding cooperation with Armenia within the framework  of the Government of the Republic of Armenia's priority programs and  for its ongoing support. Both sides agreed to continue their joint  efforts to expand and intensify cooperation.

Recall, the Caucasus Transmission Network is a strategic project to  connect the regional power systems, specifically the North-South  Corridor (Iran-Armenia-Georgia-Russia). The program aims to improve  the reliability of power supply, ensure power flows, and strengthen  regional integration. New high-voltage transmission lines  and  substations are being built as part of the program, including the  Iran-Armenia transmission line. Armenia plays a key role in this  corridor, strengthening its capacity to export and import electricity  through network modernization. The project is funded by international  organizations, including the EIB.