European bank allocates 20m dollars to update Armenian airport

Mediamax news agency
13 Jul 06

Yerevan, 13 July: The European Bank for Reconstruction and Development
[EBRD] will allocate a 20m-dollar loan to the International Airports
of Armenia Company to complete the construction of a new passenger
terminal at Zvartnots international airport.

A relevant agreement was signed in Yerevan today, Mediamax reports.

The funds will be spent to complete the construction of the terminal,
update equipment and purchase new equipment.

[Passage omitted: the executive director of the company and the head
of the EBRD’s Yerevan Office, Michael Weinstein, spoke about the
importance of the loan]