Preparing for the Lake Yerevan and Hrazdan Gorge Rejuvenation Project

Proposed

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.