YEREVAN. – During Thursday’s Cabinet session, the Government of Armenia approved the “Border Checkpoints and Infrastructure” financial agreement, which was signed between Armenia and the European Investment Bank.

The proposal to sign, between Armenia and the European Bank for Reconstruction and Development (EBRD), the “Armenia’s Northern Border Checkpoint Modernization Program” loan agreement was approved as well. 

First Deputy Minister of Finance Pavel Safaryan informed that a loan worth €10.3 million is envisioned to be received, along the lines of this program, and this loan’s overwhelming majority will be used for construction purposes at Armenia’s northern border checkpoints. 

Armenia’s Bagratashen, Bavra, and Gogavan checkpoints, which are located at the Armenian-Georgian border, will be upgraded with this program.