EBRD, EU ready to expand cooperation with Yerevan municipality under metro modernization project

EBRD, EU ready to expand cooperation with Yerevan municipality under metro modernization project

YEREVAN, January 31. /ARKA/. The head of EU delegation to Armenia Traian Hristea and the head of EBRD Yerevan office Valeriu Razlog expressed satisfaction with the outcome of their cooperation with the Yerevan municipality under the Yerevan metro modernization project, the press service of the municipality reported.

During the meeting with the mayor of Yerevan Taron Margaryan resident representative of Asian Development Bank (ADB) mission David Dole as well expressed his willingness to cooperate under this project.

Margaryan highly appreciated the results of the joint project, thanked his conversation partners for the support and suggested discussing the possibility of increasing metro branch lines under the future project 

In 2012, the European Bank for reconstruction and development (EBRD) extended a loan worth 5 mln euros to Armenia for continuing re-equipping and reconstructing the Yerevan Metro. Another 5 million euros will be given by the European Investment Bank in a loan, whereas the EU Neighborhood Investment Instrument will provide equal amount in a grant.

In 2010, the EBRD, the EIB and the EU provided a total of 15mln euros for the first stage of the project to increase reliability, energy efficiency and safety of the Yerevan Metro. The savings made after the completion of the first stage were used to fully modernize and repair 8 cars.

The Yerevan Metro after Karen Demirchyan was founded in 1981. Today the Metro has ten stations. The total length of the lines is 13.4 kilometers. -0- 

12:17 31.01.2013





 

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