EBRD PLANS TO INVEST 16.2 MILLION EUROS FOR MODERNIZATION OF YEREVAN SUBWAY

Noyan Tapan
Oct 15, 2009

YEREVAN, OCTOBER 15, NOYAN TAPAN. Mayor of Yerevan Gagik Beglarian
on October 15 received a delegation led by Jean-Patrick Marquet,
European Bank for Reconstruction and Development (EBRD) Director for
Municipal and Environmental Infrastructure.

As the PR Unit of the Yerevan Municiplaity reported, EBRD plans to
invest 16.2 million euros, including a loan of 11.2 million euros and
a grant of 5 million euros, for modernization of the Yerevan subway.

The mayor underlined the importance of investments in Yerevan subway
as the subway system has not undergone large-scale repairs since the
Soviet time and numerous problems have arisen in this period.

Noting that the new way of governing Yerevan is in line with EBRD
principles, the guests expressed their willingness to help with the
implementation of other programs in the city as well.