ASIAN DEVELOPMENT BANK TO GRANT 30.6 MILLION DOLLARS TO ARMENIA

Panorama.am
14:48 05/10/2007

The Asian Development Bank will give Armenia a credit of 30.6 million
dollars to finance the construction of village roads. This was stated
in an official declaration by the bank. Also, for improvements in the
transportation system, the bank will grant Armenia 600 million dollars.

According to the declaration, most roads in Armenia pass through
mountainous regions, where occasional dirt or mudslides occur, while
in the winter some become entirely impassable.

Representatives of the bank note that in 2004 the Armenian government
put together a new program to improve the transportation system, where
it was foreseen to connect village roads to main thoroughfares. As
of now 784 such roads have been designated, covering 2.7 thousand
kilometers. The cost of the project is 300 million dollars.

It was also stated that Armenia’s struggle against poverty was
progressing slowly. According to the bank’s experts, a major reason
for this is the mountainous nature of the country, making needed
financial progress difficult to attain.

From: Emil Lazarian | Ararat NewsPress