The Armenian government, at its Cabinet meeting Thursday, approved the proposal to sign the “Yerevan Customs and Logistics Center” loan agreement with the European Bank for Reconstruction and Development (EBRD).

According to the explanation, loan and grant agreements are planned to be signed between Armenia and the EBRD for the construction of the Yerevan Customs and Logistics Center for the needs of the State Revenue Committee of Armenia.

These agreements will provide Armenia with €45 million in funding, of which €39 million will be loans and €6 million—grants.