Building Nature-Positive Future for Lake Sevan

ADB is at an early stage of preparing a potential large-scale follow-on investment in support of Lake Sevan’s environmental sustainability and green infrastructure, with an indicative financing envelope of approximately USD 100–120 million. An internal project concept has been approved, however, the proposed investment remains subject to consultations with the Government of Armenia, further due diligence, resource availability and the applicable government and ADB approval processes. It is therefore not included in the confirmed co-financing amount at CEO MSP approval stage. If and when the proposed investment is formally approved and meets the applicable co-financing criteria, it will be reported to the GEF as additional co-financing through subsequent project reporting, possibly at mid-term review. The GBFF project is being designed in coordination with this emerging investment pipeline to maximize complementarity, while its implementation and results do not depend on the prospective investment.

ADB has also identified USD 1.4 million in related technical-assistance support, comprising USD 700,000 under TA 10148-ARM and USD 700,000 under TA 6559-REG through the Cities Development Initiative for Asia. This support is intended to contribute to feasibility assessment, investment planning, engineering design and due diligence for priority sanitation investments addressing wastewater-related nutrient and pollution pressures in the Lake Sevan basin. Given its direct relationship with the prospective large-scale follow-on investment described above, the formal co-financing documentation will be consolidated and prepared jointly for both financing packages once the proposed investment is sufficiently advanced. Support documentation for this co-financing has been included in the Roadmap.