The World Bank will provide a loan of €70.4 million to Armenia. The funds will be used to improve water supply and irrigation services in the country. Chairman of the Water Committee of Armenia, Aramazd Ghalamkaryan, announced at Thursday’s meeting of the Standing Committee on Financial-Credit and Budgetary Affairs of the National Assembly.

The statement was made during the debates on the draft ratification of the “Armenia Water Supply and Irrigation Improvement Project: Phase 1” loan agreement, which was signed between Armenia and the International Bank for Reconstruction and Development (IBRD).

The explanation for the document states that on September 11 and 18, 2025, Armenia and the IBRD signed the relevant loan agreement.

“The deadline for the entry into force of this loan agreement is 180 days from the date of signing, and the term of the program is 5 years, which will be effective from the date of entry into force. The effective date of the co-funding agreement is March 31, 2026,” Ghalamkaryan added, in particular.

The French Development Agency is also expected to co-und this project.

As a result of the implementation of this project, it is expected to introduce climate-resilient irrigation and water supply systems that will contribute to economic growth, food security, and balanced territorial development in Armenia.

After quite lengthy debates, this initiative was approved by the aforesaid standing committee of the National Assembly.

This matter was discussed in an accelerated procedure.