The enlargement of cultivated lands is a high priority. Arsen Harutyunyan

“The European Investment Bank is currently represented by three different missions, and one more is under discussion”, said Senior Loan Officer of EIB Ms. Violaine Silvestro during the meeting held in the State Committee of Water Economy.

Having presented the activity of the Bank to the the newly appointed Chairman, the EIB representatives particularly stressed their interest of Armenia’s irrigation system.

EIB Senior Irrigation Sector Specialist Daniel Timen presented a project addressed to the development of farm households, which is under discussion with RA Government. Pursuant to the European official one of the particularity of this project is that so far the main investments were directed to the construction of reservoirs and irrigation primary systems, while this program is targeted at the farm households.

“This project is equally important both for EIB and RA Government, as our approaches coincide here. It is a unique project in its ideology to support the farm households; our goal is to reduce farm subsidies allocated by the state to rural communities by promoting their competitiveness and financial stability of farms. Thus we are planning, that in the result of implementation of this project the farmers will be able to return the invested funds to the Government after 7-10 years at the same time having sustainable irrigation system and developed economy”, mentioned the EIB official and added, that in this phase the Bank and the independent consultants are working out ensuring mechanisms for repayment of invested funds.

The SCWS Chairman Arsen Harutyunyan greeted the initiative of the Bank and noted that the Committee is ready to support the program.
“I think that all our efforts should be directed to one thing: to increase cultivated land areas allowing farmers to develop and be competitive in the market”, said A. Harutyunyan, at the same time added, that the Committee will develop very concrete solutions for supporting farmers, who is ready to work, establish and develop a sustainable economy.

Note that European Investment Bank is also implementing “Water Supply and Sanitation Investment Project of Armenia”, where has 30 mln Euros financial representation.