Approximately $6.8 million to be allocated for the recovery of flood-affected communities

Armenian Minister of Finance Vahe Hovhannisyan met with Ibrahima Cheikh Diong, Executive Director of the Fund for Responding to Loss and Damage (FRLD), on the sidelines of the 17th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP17).

The main focus of the meeting was a discussion of Armenia’s first funding application submitted to the Fund. The application seeks to secure approximately USD 6.8 million in support for the recovery of communities in the Lori and Tavush regions affected by the 2024 floods.

The programme aims to restore transport infrastructure and riverine ecosystems, support vulnerable populations, and strengthen communities’ capacity to withstand climate-related hazards. In this context, the parties discussed opportunities for mobilizing international financial assistance to address the consequences of climate-related disasters, including mechanisms for direct access to the Fund’s resources.

Minister Hovhannisyan presented the specific features of Armenia’s budgetary process, emphasizing the importance of making effective decisions in the context of limited public resources. He also highlighted the cooperation between Armenia’s Ministries of Finance and Environment in supporting the implementation of commitments undertaken in the environmental sector.

For his part, Ibrahima Cheikh Diong noted that the Fund’s activities are centered on the actual needs of countries. He expressed his readiness to deepen cooperation with Armenia to ensure an effective response to climate challenges.