Investment Cooperation Between the EU and the EAEU Countries in Building a “Green Economy” (Case of the EBRD’s Activities in Armenia)

The research focuses on the activities of the European Bank for Reconstruction and Development (EBRD) on the territory of Armenia as one of the member countries of the Eurasian Economic Union Integration Association (EAEU). The research aims to identify trends and features in the field of financing green economy projects and their impact on the country’s energy potential and sustainable development. The research is based on the analysis of the EBRD database, a comparison of expert opinions, and current data on the implementation of funded projects. In particular, it is revealed that many projects are implemented with the involvement of funds from third international financial organizations, integrated into broader national development programs of relevant industries and sectors, etc. There is sufficient evidence that in recent years, cooperation between the EBRD and Armenia has increasingly focused on supporting projects aimed at maintaining sustainable development, including such areas as urban and industrial infrastructure, energy conservation, renewable energy, etc. It is revealed that the EBRD’s financing contributes to the accelerated modernization of energy companies’ capacities, creating incentives for the introduction of renewable energy sources, improving the efficiency of resource use, decarbonization, and maintaining the financial stability of national companies.