DEVELOPMENT BANK OF JAPAN TO EXTEND $70-$100 MILLION RURAL ROADS REHABILITATION LOAN TO ARMENIA

ARKA
September 11, 2009
Yerevan

YEREVAN, September 11, /ARKA/. Armenian Transport and Communications
Minister Gurgen Sargsyan said today the Development Bank of Japan
(DBJ) would extend a $70- $100 million loan to Armenia to help its
government rehabilitate rural roads.

Speaking at a news conference he said the talks with the DBJ were
in the final phase. The loan agreement is expected to be signed in
December, he added. The minister said the loan will be spent on rural
roads rehabilitation project that will last 2-3 years.

According to him, the DBJ loan will spur up the implementation
of the government-designed rural road rehabilitation project for
2008-2012. When this project is fulfilled every rural community across
Armenia will have at least one good road connected with the country’s
major highways.