Preparing for the Lake Yerevan and Hrazdan Gorge Rejuvenation Project (ADB-58415-001)

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
Yerevan, Hrazdan Gorge
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
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
  • Law and Government
  • Technical Cooperation
  • Water and Sanitation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
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.
Primary Source

Original disclosure @ ADB website

Updated in EWS Dec 27, 2024

Disclosed by Bank Dec 20, 2024

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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.

As stated by the ADB, the proposed Technical Assistance (TA) will support the Government of Armenia, Yerevan Municipality, and the Asian Development Bank (ADB) in preparing for the Lake Yerevan and Hrazdan Gorge Rejuvenation Project. The Mayor of Yerevan requested the TA in July 2024, intending to use its outputs as a basis for the city's submission under Armenia's Public Investment Management (PIM) Framework. Upon PIM approval, the project will be integrated into the government's pipeline under the Midterm Expenditure Framework, facilitating a formal financing request. The loan is currently a standby project for 2027 in ADB's pipeline but may be expedited to 2026 if the TA achieves its objectives, with ADB working closely with stakeholders to ensure a viable investment proposal.

The proposed TA is aligned with Armenia's Nationally Determined Contribution and National Adaptation Plan of Armenia; Programme of the Government of the Republic of Armenia, 2021-2026; and the Five-Year Program for Yerevan's Development (2024-2028), which focuses on enhancing environmental sustainability and urban resilience. The TA also aligns with ADB's Strategy 2030 addressing urbanization challenges and promoting livable cities and climate resilience. By incorporating advanced technologies and community engagement, the TA reflects lessons learned from international experience including ADB's urban projects in Southeast Asia, which have effectively used technology and participatory approaches.

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

Information on the TC investment amount not provided at the time of disclosure.


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.

ADB Team Leader:

Kiyoshi Nakamitsu - Principal Urban Development Specialist, SG-Water and Urban Development

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

How it works

How it works