CIF Countries

Armenia is a landlocked country in the Caucasus region between Europe and Asia with a surface area of 1,279 kilometers (sq km). It shares borders with Azerbaijan, Nagorno-Karabakh Republic, Turkey, Nakhchivan Autonomous Republic (an exclave of Azerbaijan), Georgia, and Iran. Armenia is highly vulnerable to natural hazards, such as riverine, flash, and coastal floods, tropical cyclones, droughts, mudflows, and landslides that affect one-third of its communities, along with earthquakes.

POPULATION:

2.96 Million (2020)

CO₂ EMISSIONS PER CAPITA:

1.9 CO₂ metric tons (2018)

SOURCE:

World Bank

CIF’s investment in Armenia is primarily through its Scaling up Renewable Energy Program (SREP). Armenia's $14-million SREP investment plan aims to reduce the cost of renewable energy technologies that lie at the threshold of competing with the expected future cost of generation. For technologies such as geothermal and utility scale solar photovoltaic (PV), pioneering projects backed by SREP will help to reduce resource and performance risks, develop local markets and expertise, and provide the government with the impetus and opportunity to achieve reforms — in particular, appropriate tariffs. As experience increases, project development costs are expected to decline, and for some technologies, such as solar PV, local production may also emerge.

In 2021, under the CTF umbrella, the CIF's Technical Assistance Facility (TAF) also mobilized $500,000 to support ADB's program to strengthen capacity on identifying and developing green and resilient urban infastructure investment opportunities.

SREP INVESTMENT PLAN FOR ARMENIA (REVISED)

SREP Investment Plan for Armenia

NO. OF CIF-APPROVED PROJECTS

CIF APPROVED FUNDING

$19.47M

Expected Co-financing

$149.66M

Sources of Expected Co-financing

Government

5.75% (8.6M)

MDB

18.54% (27.75M)

Private Sector

71.16% (106.5M)

Bilaterals + Others

4.55% (6.81M)

Source	Data
Government	5.75% (8.6M)
MDB	18.54% (27.75M)
Private Sector	71.16% (106.5M)
Bilaterals + Others	4.55% (6.81M)

CIF Investments by Program

SREP

100% (19.47M)

Program	Data
SREP	100% (19.47M)

Data as of December 31, 2023

Country Snapshot

SREP
INVESTMENT PLAN Revised - Armenia Investment Plan (Revised IP approved on Jan 2, 2019) Audit Reports - FY 2015\| FY 2016\| FY 2017\| FY 2018\| 2019 (Jan-May) Letter from the Ministry\| Document
COUNTRY MISSIONS Scoping Mission: July 2-11, 2012 Terms of Reference \| Completion Report Technical Mission: June 3-6, 2013 Terms of Reference \| Completion Report Joint Mission: August 28-September 3, 2013 Terms of Reference \| Completion Report
COMMENTS FROM THE SUB-COMMITTEE Switzerland (April 28, 2014) Netherlands (May 6, 2014) United Kingdom (May 6, 2014) United States (May 8, 2014) Switzerland (May 27, 2014)