Customs and logistics center worth 45 million euros will be established in Yerevan
YEREVAN, September 22. /ARКА/. The Finance Minister of Armenia, Vahe Hovhannisyan, along with Elisabetta Falchetti, the Executive Director for Turkey and the Caucasus at the European Bank for Reconstruction and Development, formalized a loan and grant agreement in Yerevan for the "Yerevan Customs and Logistics Center Program."
According to the press service of the State Revenue Committee (SRC), these agreements stipulate that €45 million will be allocated to Armenia for the establishment of the Customs and Logistics Center in Yerevan for the Stae Revenue Committee.
Furthermore, this will contribute to the establishment of a modern customs infrastructure in terms of spatial and construction requirements, the technical equipment essential for customs control, and the accessibility and user-friendliness of the information systems necessary for delivering services to Free Economic Zone participants.
The signing ceremony was attended by Armenia's Deputy Prime Minister Mher Grigoryan, EU Commissioner for Enlargement Marta Kos, Head of the EU Delegation to Armenia Ambassador Vasilis Maragos, and Chairman of the State Revenue Committee Eduard Hakobyan.
Earlier, the European Bank for Reconstruction and Development (EBRD) said it was financing a new customs and logistics centre on the outskirts of Yerevan with a €39 million sovereign loan, complemented by a €6 million grant from the European Union (EU).
The new facility will replace several fragmented customs sites across the capital, improving service quality and reducing the time required for clearance. The high-quality scanning and inspection equipment will significantly enhance the efficiency of the clearance processes and accelerate them by bringing into motion a ‘single window’ principle for customs operations.
The facility will strengthen regional connectivity and support trade, contributing to the country’s broader goals for economic development.-0-
