Board of Asian Development Bank will discuss the issue of provision of
$300 million to Armenia in June
YEREVAN, March 26. /ARKA/. Board of Asian Development Bank will
discuss in June the issue of approval of credit program in the amount
of $300 million for Armenia, informs press-center of Yerevan
Municipality.
During the meeting with Gagik Beglaryan, City Mayor of Yerevan
representatives of Asian Development Bank said that their credit will
be allocated for large-scale construction of Yerevan underground and
renovation of buses and micro-buses of the city.
Armenian side will get the credit by separate tranches.
$85 million of the first tranche will be allocated for the
construction of new entrance of underground of the station
Yeritasardakan. Currently the experts of the bank together with
Yerevan Municipality are conducting project feasibility study.
City Mayor of Yerevan demonstrated the bank representative the general
plan of business-center construction in Yerevan in the territory of
Noragyugh.
It is planned to build new roads and communications in this territory.
Beglaryan highly appreciated credit participation of the Bank in the
program which has great strategic importance for the city.
Asian Development Bank (ADB) was established in 1966. It has 67
member-states. Armenia is the member of the Bank since September 20,
2005 which joined the `Agreement of founding the Asian Development
Bank’. Armenian Government and Asian Development Bank signed a number
of agreements and memorandum of understanding. Total cost of ADB
projects in Armenia in the construction of rural roads and water
supply is $83 million. -0-