Setting environment variables via Command Prompt from file

Question

Aside from setting N environment variables using these steps:

1. Open System Properties
2. Click Advanced system settings
3. Click Environment Variables
4. Create/Update/Delete Environment Variables

Is there a way to set multiple environment variables on a text file and load it on command prompt? The file would look like this:

SET <VariableName>=<PATH>
SET <VariableName>=<PATH>
SET <VariableName>=<PATH>
SET <VariableName>=<PATH>
SET <VariableName>=<PATH>

If so, what command should I run if the file would be saved as EnvironmentVariables.txt