RECONSTRUCTION OF YEREVAN METRO TO ENSURE ITS SAFE OPERATION FOR ANOTHER 30 YEARS

PanARMENIAN.Net
10.03.2010 12:48 GMT+04:00

/PanARMENIAN.Net/ On 10 March 2010 the government of Armenia and
the European Bank for Reconstruction and Development (EBRD) signed
a 15 million euro loan agreement. The agreement was signed by the
finance minister Tigran Davtyan and head of the EBRD office in Yerevan
Valeriu Razlog.

According to the ministry of finance, the EBRD and the European
Investment Bank will provide 5 million euros each for the same interest
rate – just over 1% (Libor +1%), another 5 million euros will be
granted under the EU Neighbourhood Investment Facility. Funds are
provided for 15 years, at a 3-year grace period.

The Armenian government attaches great importance to the stable work
of Yerevan metro, Tigran Davtyan said.

The mayor of Yerevan Gagik Beglaryan promised, that after the
reconstruction, no problem related to the operation of the metro will
arise for another 30 years.