Armenia: Cofinancing

Cofinancing operations enable ADB’s financing partners, governments or their agencies, multilateral financing institutions, and commercial organizations, to participate in financing ADB projects. The additional funds are provided in the form of official loans and grants, technical assistance, other concessional financing, and commercial financing such as B loans, risk transfer arrangements, parallel loans and equity, guarantee cofinancing, and cofinancing for transactions under ADB’s Trade Finance Program.

From 1970 to the end of 2015, cumulative direct value-added (DVA) official cofinancing for Armenia amounted to $267.1 million for two investment projects and $1.8 million for four technical assistance projects. Cumulative DVA commercial cofinancing for Armenia amounted to $132.8 million for three investment projects.

In 2015, the Eurasian Development Bank provided loan cofinancing of $150 million for additional cofinancing for the third tranche of the North–South Road Corridor Investment Program.

Armenia: Projects Cofinanced, 1 January 2011–31 December 2015

Cofinancing No. of Projects Amount ($ million)
Projectsa 4 319.93
 Grants 2 18.79
 Official loans 2 248.31
 Commercial cofinancing 2 52.83
Technical Assistance Grants 3 1.26

A project with more than one source of cofinancing is counted once.

Investment Projects Cofinanced for Armenia, 1 January 2011–31 December 2015

Project ADB Amounta
($ million)
Cofinancing Amount
($ million)
Type of
Cofinancingb
North-South Road Corridor Investment Program - Tranche 3 100.00 237.10 G/O
Power Transmission Rehabilitation 37.00 30.00 G/O
Sevan-Hrazdan Cascade Hydropower System Rehabilitation 25.00 25.00 C
Trade Finance Program 11.34 27.83 C

Loan, grant or blend.
b C = commercial cofinancing, G = grant cofinancing, O = official cofinancing.