EDB allocates AMD 100 million to eliminate consequences of floods in Armenia

p

YEREVAN, 19 June. /ARKA/. The Eurasian Development Bank (EDB) has provided assistance to Armenia to help overcome the consequences of the natural disaster that occurred on 25–26 May 2024./pp

Heavy rains resulted in a month’s worth of precipitation, affecting local residents, transport and energy infrastructure, as well as rail and road communications./pp “In view of the severe consequences of the flooding that affected Armenia’s northern regions, the EDB decided to provide ADM 100 million in financial support. These funds will be transferred to Armenia’s Ministry of Finance for further distribution,” said Nikolai Podguzov, Chairman of the EDB Management Board./pp

In 2024, the EDB also provided financial aid to Kazakhstan for those who suffered from the worst floods in 80 years./pp

Additional Information:/pp

Thenbsp;Eurasian Development Bank (EDB)nbsp;is a multilateral development bank investing in Eurasia. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with annbsp;integrationnbsp;effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.-0-/pp/p