Anti-Crisis Fund approves application for $100 mln for North-South road to Armenia
YEREVAN, September 4. /ARKA/. The ministerial council of Anti-Crisis Fund approved the preliminary application of Armenian government for $100 million for implementation of design, construction and technical supervision at some sections of North-South road corridor, deputy chairman of the management board of the Eurasian Development Bank (EDB) Sergey Shatalov said.
The delegation headed by Shatalov discussed Anti-crisis Fund’s contribution in “North-South corridor” project with Armenian minister of transport and communication Gagik Beglaryan, the ministry press office reported.
It is expected that the amount will be provided only if a preliminary feasibility study is available for certain part of the road.
The minister said a tender will be held for the study of the southern part in the near future and the fund will have it ready in spring 2014.
“Assistance from the EDB is very important to us in construction of the North-South road corridor, especially its southern part”, the minister said.
The construction of the corridor is expected to be completed in 2017. The road will extend 556 kilometers to the Black Sea and Europe via Armenia (Meghri-Kapan-Goris-Yerevan-Ashtarak-Giumry-Bavra) and Georgia.
Eurasian Development Bank (EDB) is an international financial organization established by Russia and Kazakhstan in 2006 to help develop market economies and boost mutual trade ties in member states. The bank’s authorized stock is over 1.5bln US dollars. The member-states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.
The bank’s cumulative investment portfolio in Armenia is $109 million today. –0--