Armenian president stresses ADB’s input to steady development of the country
05.10.2010,
20:57
Armenia’s president Serzh Sargsyan received October 4 a delegation of board members of the Asian Development Bank (ADB).
YEREVAN, October 5, /ARKA/.Armenia’s president Serzh Sargsyan received October 4 a delegation of board members of the Asian Development Bank (ADB). The presidential press service quoted president Serzh Sargsyan as underscoring the importance of ADB’s operations in Armenia, aimed to help boost its economic progress.
President Serzh Sargsyan was reported to express gratitude to the Bank for its support to Armenia in overcoming the aftereffects f the global financial-economic crisis. ‘We emphasize the operations of ADB not only in terms of its investments in Armenia, but also in terms of bringing here a new culture of administration,’ he said.
“It is very important to us, as we are trying to form mechanisms and capacities of efficient administration. I hope your visit will give a new push to our bilateral and efficient partnership,’ Serzh Sargsyan said.
The two men were also said to have stressed the importance of implementation of joint projects – construction of ‘North-South’ highway, development of urban and rural infrastructures – as well as Armenia’s participation in regional projects.
Last year the Asian Development Bank (ADB) said it will extend up to $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 sub-regions. Funds will be 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.
The project is estimated preliminary to cost $962 million. In the second phase a road from Ashtarak to Gyumri will be reconstructed. In the third phase a new road from Goris to Kapan will be constructed. Minister Vardanian told Ashok Lahiri today that the tender for the reconstruction of the first phase was announced and the winner will be announced before the end of this year.
On January 14, 2010 the Armenian government approved the investment program for building the North-South transport corridor and a framework $500 million loan agreement with the Asian Development Bank. The government approved also an agreement on disbursement of the first tranche of the loan in the amount of $60 million.
The construction of Iran-Armenia railway will allow Armenia to use alternative railroads to transport energy resources and other commodities. The agreement was signed on April 15, 2009 in Tehran. According to some preliminary estimates, the project cost may vary between $1.5 -$2 billion. -0-
President Serzh Sargsyan was reported to express gratitude to the Bank for its support to Armenia in overcoming the aftereffects f the global financial-economic crisis. ‘We emphasize the operations of ADB not only in terms of its investments in Armenia, but also in terms of bringing here a new culture of administration,’ he said.
“It is very important to us, as we are trying to form mechanisms and capacities of efficient administration. I hope your visit will give a new push to our bilateral and efficient partnership,’ Serzh Sargsyan said.
The two men were also said to have stressed the importance of implementation of joint projects – construction of ‘North-South’ highway, development of urban and rural infrastructures – as well as Armenia’s participation in regional projects.
Last year the Asian Development Bank (ADB) said it will extend up to $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 sub-regions. Funds will be 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.
The project is estimated preliminary to cost $962 million. In the second phase a road from Ashtarak to Gyumri will be reconstructed. In the third phase a new road from Goris to Kapan will be constructed. Minister Vardanian told Ashok Lahiri today that the tender for the reconstruction of the first phase was announced and the winner will be announced before the end of this year.
On January 14, 2010 the Armenian government approved the investment program for building the North-South transport corridor and a framework $500 million loan agreement with the Asian Development Bank. The government approved also an agreement on disbursement of the first tranche of the loan in the amount of $60 million.
The construction of Iran-Armenia railway will allow Armenia to use alternative railroads to transport energy resources and other commodities. The agreement was signed on April 15, 2009 in Tehran. According to some preliminary estimates, the project cost may vary between $1.5 -$2 billion. -0-
