news.am, Armenia
March 27 2010
ADB to allot U.S. $300m loan to Armenia
11:53 / 03/27/2010 The Asian Development Bank (ADB) plans to allocate a
U.S. $300m loan to Armenia for implementation of several projects in
Yerevan. In the end of June Yerevan City hall will submit the loan
program to the ADB Board for approval.
The Yerevan City Hall press service reported that by a prior
arrangement, the loan is to be allotted in several tranches. From the
first tranche, U.S. $85m, funds will be provided for the renovation of
the Yeritasardakan (Youth) subway station in Yerevan.
In addition, the funds will go for the purchase of new buses and minibuses.
Presently, ADB and Yerevan City Hall representatives are specifying
the loan program.
T.P.