Yerevan Buses Project

Under the agreement reached with European Bank for Reconstruction and Development ( EBRD), a tender was announced for the purchase of 12-meter CNGs buses.

On 24 November, 2021, Loan Agreement of Yerevan Buses Project was signed between EBRD and the Republic of Armenia.

On 24November, 2021, Yerevan Buses Project Grant Agreement was signed between EBRD and the Republic of Armenia.

The bid evaluation process is completed. Tegeta Motors LLC was recognized as the winner of the competition.

The Yerevan CNG Bus project will be implemented by the Yerevan Municipality and the “Yerevan Bus” CJSC. The new green buses will deliver many environmental, social and gender benefits, reduce air pollution and encourage a modal shift from private cars to a more reliable and efficiency public transport network.  The project is financed by European Bank for Reconstruction and Development (“EBRD”) sovereign loan of EUR 20 million and an E5P investment grant of EUR 5 million. The Project is a follow-on investment under the EBRD Green Cities Framework.  It is a prioritised investment under the Yerevan Green City Action Plan (“GCAP”) and in line with the EU Covenant of Mayors Sustainable Energy Action Plan. The project will also include a comprehensive TC support including Bus Reform Support (”BRS”), City Support Programme (“CSP”) and Corporate Development Program (“CDP”) to enhance the institutional development and reform agenda.

So far the E5P fund is supporting Armenia with financial contributions of close to €25 million provided by the European Union (€10m), Czech Republic (€0.05m), Denmark (€0.2m), Finland (€0.4m), Germany (€4m), Lithuania (€0.03m), Norway (€0.8m), Poland (€0.1m), Slovak Republic (€0.1m), Sweden (€7m), TaiwanBusiness EBRD TC Fund (€0.1m).  Armenia is also a contributor with €1 million. The European Union is the largest contributor, while Sweden is the largest bilateral contributor. The E5P fund in Armenia is supporting priority infrastructure projects for public buildings, solid waste management, street lighting and public transport.

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Map

Ancient Yerevan