The Eurasian Development Bank (EDB), the government of Armenia, and the Yeremyan Farm Company signed a Memorandum of Cooperation to ensure food security and sustainable development of Armenia’s agriculture by building a new livestock complex in the Tashir community of Armenia’s Lori Province in the near future. The EDB will assist the Armenian government by financing agricultural projects that promote the processing of raw materials and add value to agricultural products.

The livestock complex to be built in the Tashir community of Lori Province will occupy an area of 29 hectares and will include farms for dairy cows and sows with a number of innovative solutions and automated systems, a slaughterhouse, land for growing fodder crops, own feed mill and fodder mixture storage.

Under the loan agreement, the EDB will provide $25 000 000 to Yeremyan Farm for full-cycle production, including the replacement of low-margin animals with pedigree cattle, expansion of agricultural areas for fodder production, and modernization of assets to increase the production of meat and dairy products.

The total cost of the project is $31 000 000. It includes the construction of a dairy farm for 1,200 heads of pedigree cattle and a pig farm for 6,000 heads and is expected to increase milk production to 11,000 tons. The project is expected to cut imports of milk by 7% and improve the provision of Armenia with milk by 1.4% (the current level of provision with milk is 82%).