Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Armenia

Geographic location where the impacts of the investment may be experienced.

Specific Location

Artik, Astghadzor, Kassakh, Lichk and, Yelpin

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Active

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Borrower

Government of Armenia - Ministry of Finance

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Climate and Environment
Water and Sanitation

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 74.28 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 64
Converted using 2026-05-19 exchange rate.

Project Cost (USD)

$ 88.21 million

Bank Documents

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 16, 2026

Disclosed by Bank May 19, 2026

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of a sovereign loan of up to EUR 64 million to the Republic of Armenia represented by the Ministry of Finance for the benefit of the Water Committee of the Ministry of Territorial Administration and Infrastructure ("MTAI"), responsible for the management and safe use of state-owned water. The Loan is expected to be complemented by an investment grant of up to EUR 12 million and will finance the construction of five water reservoirs in Artik, Astghadzor, Kassakh, Lichk and, Yelpin settlements in Armenia. The Project, expected to be the first phase of a larger nation-wide programme, aims to enhance water and food protection including climate resilience and contribute into improved access to irrigation for local population in areas where agribusiness is the primarily economic activity.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The EBRD has categorized this greenfield project as 'A' in line with its Environmental and Social Policy ('ESP') (2019) because it may cause significant environmental and social impacts.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

A sovereign loan of up to EUR 64 million.
he Loan is expected to be complemented by an investment grant of up to EUR 12 million.

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Full ESIA documentation is available locally at

Administrative buildings of:

Areni community,
Address: 15, blind alley 2, building 6, v. Areni,
Vayots Dzor Marz (province) Republic of Armenia
Tel: 00 374 281 6 00 01
Email: areni.vayotsdzor@mta.gov.am
URL: https://arpaareni.am
Community Head: Mr. Husik Sahakyan

Artik community
Address: 1 Azatutyan sq, t. Artik
Shirak Marz (province), Republic of Armenia
Tel: 00374 244 5 20 21
Email: artikmun@mail.ru
URL: https://artik.am
Community Head: Mr. Ananik Vskanyan

Martuni community
Address: 2 Shahumyan, t. Martuni 1401
Gegharkunik Marz (province), Republic of Armenia
Tel: 00374 60743401
Email: info@martuni.am
URL: https://martuni.am
Community head: Mr. Hovhannes Hoveyan

Megri community
Address: 2 Zoravar Andanik, t. Meghri
Syunik Marz (province), Republic of Armenia
Tel: 00374 286 4 34 23
Email: citymeghri@gmail.com
URL: https://meghri.am
Community Head: Mr. Khachatur Andreasyan

Ashtarak community
Address: 7 Ashtaraketsu, t. Ashtarak
Aragatsotn Marz (province), Republic of Armenia
Tel: 00374 232 3 10 26
Email: ashtarakmunicipality@gmail.com
URL: https://ashtarak.am
Community Head: Mr. Tovmas Shahverdyan

Khoy community
Address: 30 Mashtots, v. Geghakert
Armavir Marz (province), Republic of Armenia
Tel: 00374 60 888 999
Email: khoy.community@gmail.com
URL: https://khoy.am
Community Head: Mr. Lyudvik Yayloyan

Or affected communities

And EBRD Yerevan Resident Office
Piazza Grande Business Centre, 2nd floor, rooms 95-97, 10 Vazgen Sargsyan Street, Yerevan 0010, Republic of Armenia
Tel: 00 374 10 590901

And (if available): Client website. https://www.scws.am/en

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html