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European Investment Bank Finances Armenia Water, Border Upgrades

The European Investment Bank is lending Armenia almost 37 million euros ($45 million) to help upgrade municipal water and sewage facilities and construct three crossing points on the border with Georgia.

The bulk of the financing will be to develop border crossings and improve access roads at Bagratashen, Bavra and Gogavan, the European Union’s bank said. Loans to improve the drinking water supply and wastewater treatment will aid about 300,000 residents of 17 towns in Armenia, the EIB said in a website statement.

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