Armenia’s parliament considers $100mln loan agreement with ADB
YEREVAN, June 10. /ARKA/. Armenia’s parliament discussed Monday the loan agreement between Armenia and the Asian Development Bank about $100 million loan for construction of 18.7-kilometer Talin-Lanjik road section of the North-South corridor.
After the loan agreement comes into effect, a tender will be announced as per the ADB requirements, and there will be a contract within one year, said Artur Arakelyan, deputy minister of transport and communication. Construction works will take about two years, he said.
The project will include also a feasibility study for 304-kilometer Artashat-Kajaran road section.
The opposition factions stressed Armenia’s national debt is close to $5 billion and it is not reasonable to attract new loans in these conditions. The opposition said they will vote against this and other loan agreements.
On January 14 2010, Armenia’s government approved investment program for construction of the North-South transport corridor and the framework agreements between Armenia and the ADB for $500 million.
The “North-South” Road Corridor links Central Asia and India with Iran, Georgia, Russian Federation and Europe. The corridor passes across Armenia from South to North (Meghri-Kapan-Goris-Yerevan-Ashtarak-Gumri-Bavra), links up with the Georgian road leading to seaports Poti and Batumi (Black Sea) and on toward Russia, CIS and EU. –0--