EBRD MULLS EUR 5M LOAN TO YEREVAN METRO

Cbonds. Info
May 26 2009

The EBRD is considering a project to cover emergency investments in
the Yerevan Metro, covering immediate rehabilitation needs including
safety upgrades. The investment is part of the plan to improve and
reform public transport services in the capital of Armenia. The
operation would primarily benefit lower-income groups, who rely on
the poorly maintained metro system.

The EBRD loan will be provided to Yerevan Metropolitan Karen Demirchyan
CJSC (Yerevan Metro Company), under a sovereign guarantee. The
Company is managed by the Yerevan Municipality and by the Board of
Directors. The Company’s ultimate shareholder is the Government of
the Republic of Armenia, represented by the Yerevan Municipality.