YEREVAN, March 7. / ARKA /. The feasibility study for a project designed to build the fourth phase of North -South transport corridor in Armenia will be ready in late April 2014, a representative of the Armenian government said during a meeting of the Eurasian Development Bank (EDB) , held yesterday.
The $100 million worth s project is being prepared by the EDB as the Manager of EurAsEC Anti-Crisis Fund in collaboration with the Asian Development Bank (ADB).
If the project is approved by Anti-Crisis Fund Board , which is expected somewhere in June 2014, the financing would follow the same year.
On 26 June 2013 the ACF Council approved the preliminary request and Concept Note for the investment project in Armenia the Construction of the North-South Road Transport Corridor (Phase 4) in the amount of US$ 100 million. The project involves rehabilitation of a section of the transport corridor as part of the investment project “Construction of North-South Road Corridor”.
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. The “North-South” road is part of the transnational motorway AH 82 interlinking such Central Asian countries as Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.
As a result of the proposed comprehensive development project, the road route Europe-Caucasus-Asia will be improved in the zone of junction between West Europe and Eastern Europe. The quickest shortcut route of the corridor, 449 km in length, in its final stretch on the territory of Georgia runs along the road Akhaltsykhe-Batumi, which is currently in need of rehabilitation.
Following the meeting, the parties agreed on a joint mission of the EDB , ADB and Armenian Ministry of Transport in March- April this year.
EDB was established by Russia and Kazakhstan in January 2006 with the purpose of support to market economy of participant-states. Charter capital of the bank exceeds $1.5 billion. Participant-states of the bank are Russian Federation, Belarus, Kazakhstan, Armenia, the Kyrgyz Republic and Tajikistan.
The EURASEC Anti-crisis Fund is an international financial institution established by Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia and Tajikistan with the goals to assist its member states in overcoming the consequences of global financial crisis, to ensure their long-run economic stability and to foster economic integration of ACF member-countries.
The Fund assists member states with two instruments — financial credits, available to governments only, and investment loans, provided either to ACF member states or to companies implementing interstate and national investment projects. -0-