EBRD TO DEVELOP SUBWAY, TROLLEY PARKS AND PAID PARKING LOTS IN YEREVAN
ARKA
Nov 27, 2009
YEREVAN, November 27. / ARKA /. The European Bank for Reconstruction
and Development and the City of Yerevan will cooperate in development
programs of the underground metro, trolley parks, and fee based
parking lots.
As it was reported on the official site of the capital’s city hall,
the mayor of Yerevan Gagik Beglaryan and Business Group Director of
the European Bank for Reconstruction and Development in South-Eastern
Europe, Caucasus and Central Asia Olivier Descamps discussed the
prospects of development of urban infrastructures.
According to the report, the EBRD will provide both consultations
and credit funds.
"The successful negotiations inspire one to quickly launch the
programs," Descamps said.
He also said that an agreement on the implementation of these programs,
according to preliminary agreement will be signed in January of
next year.
In his turn, the mayor of Yerevan suggested starting with small
programs in order for the large-scale investments to be used more
purposefully.
The EBRD is one of the largest investors in Armenia.
Investments of the European Bank for Reconstruction and Development
in Armenia in 2009 will total 150 million USD versus 75 million USD
for the year 2008.
Currently, the EBRD has invested more than 335 million Euros in the
implementation of more than 70 programs in various sectors of the
economy of Armenia.