BAKU: WB, Asian Bank To Finance Iran-Armenia Railway Project

WB, ASIAN BANK TO FINANCE IRAN-ARMENIA RAILWAY PROJECT

Trend
March 18 2009
Azerbaijan

Implementing a railway project between Iran and Armenia is too
important for Yerevan, Armenian Prime Minister Tigran Sarkisyan said.

The project costs $2 billion, he said. The World Bank and Asian
Development Bank stated their readiness to finance this project,
the Iranian IRNA news agency reported.

Constructing Iran-Armenia railway will enable to transport cargos
to Armenia, Sarkisyan said. The railway will be constructed via 13
border zones, he added.

Sarkisyan said Armenia has held discussions with the Asian Development
Bank which is ready to finance the project.