YEREVAN, September 11. / ARKA /. Armenia’s Deputy Prime Minister Armen Gevorgyan met Tuesday with a delegation of the Asian Development Bank (ADB) to discuss a new five-year cooperation strategy, the government said. The delegation was led by Bhimantara Widyajala, ADB director for Armenia programs.
"The ADB is one of the major partners of the Armenian government; we have a large program of cooperation, and we attach importance to the successful implementation of joint programs,» Armen Gegvorkyan was quoted as saying in a press release.
The sides were said to have discussed the pace of construction of North-South transport corridor, financed by ADB. It was stated that the work kept with the schedule. The Deputy Prime Minister noted that such a large-scale program of road construction with the use of the latest technology was implemented in Armenia for the first time.
The parties also expressed satisfaction with the implementation of the second phase of the joint project on water supply and disposal, which involves 90 rural and 18 urban communities.
The Asian Development Bank (ADB) has committed $500 million to Armenia to help it upgrade its main corridor road as part of a broader thrust to improve connectivity, and boost trade, growth and livelihood opportunities in the Caucasus and Central Asia subregions. Funds are released periodically through a multitranche financing facility. The transport corridor will stretch from the southern Armenian town of Meghri, on the border with Iran, to Bavra in the north on the border with Georgia. -0-