The government of Armenia on Thursday approved at its Cabinet session a decision under which the European Bank for Reconstruction and Development (EBRD) will provide 39 million euros to build a logistics center in the Armenian capital, Yerevan.

The explanation for this decision states that a loan agreement between Armenia and the EBRD was signed on September 19, under which it is planned to build a customs and logistics center in Yerevan for the needs of the State Revenue Committee of Armenia.

At the same time, it is planned to allocate a certain amount to Armenia, and it will be directed to the technical support (mobilization) of the aforesaid project’s implementation as a grant.

The co-funding amount of the respective loan and grant by the Armenian government will be 9 million euros, of which 7.8 million euros will come from the loan.

The loan to be provided under this agreement will be directed to the construction of Yerevan’s foreign economic activity (FEA) center, the procurement of goods and services, as well as the provision of consultancy services, while the grant will be used for the construction of the Yerevan FEA center and the procurement of equipment.

In FEA centers, the processes of importing and exporting goods are carried out in one location. Here, the main processes will be based on the use of electronic systems and software solutions.

The State Revenue Committee of Armenia informs that all Armenian state agencies and private organizations that provide the necessary documents for the import and export of goods shall be located in these centers.