Downtown Yerevan to be eased from traffic congestion
27.05.2011,
00:03
The Armenian government has recognized today a joint project that the Yerevan municipality will carry out with the support of the Asian Development Bank to enhance public transport in the capital city as exclusive and a public priority.
YEREVAN, May 26. / ARKA /. The Armenian government has recognized today a joint project that the Yerevan municipality will carry out with the support of the Asian Development Bank to enhance public transport in the capital city as exclusive and a public priority.
Yerevan mayor Karen Karapetian said the project calls for construction of circumventing speedways to connect Artashat and Ashtarak highways in order to ease traffic congestion in downtown Yerevan and help also connect the capital city with other regions.
The project will be backed by a $60 million loan to be released by the Asian Development Bank. An agreement to that end was signed on May 19 by mayor Karapetian and Asian Development Bank regional director Mathew Westfall.
Part of the loan will be spent on the construction of a new road to Karmir Blur location in a Yerevan outskirt, the cite of a historic settlement. This is supposed to boost tourism. Prime minister Tigran Sarkisian called for quick ratification of the agreement between the municipality and the Asian Development Bank so that to get down to the project implementation as quick as possible.
Finance minister Vache Gabrielian suggested to postpone release of funds from the government reserve fund for the project as a co-financing until next year. He said the government co-financing is 179 million drams. ($1 – 376.11 drams). -0-
Yerevan mayor Karen Karapetian said the project calls for construction of circumventing speedways to connect Artashat and Ashtarak highways in order to ease traffic congestion in downtown Yerevan and help also connect the capital city with other regions.
The project will be backed by a $60 million loan to be released by the Asian Development Bank. An agreement to that end was signed on May 19 by mayor Karapetian and Asian Development Bank regional director Mathew Westfall.
Part of the loan will be spent on the construction of a new road to Karmir Blur location in a Yerevan outskirt, the cite of a historic settlement. This is supposed to boost tourism. Prime minister Tigran Sarkisian called for quick ratification of the agreement between the municipality and the Asian Development Bank so that to get down to the project implementation as quick as possible.
Finance minister Vache Gabrielian suggested to postpone release of funds from the government reserve fund for the project as a co-financing until next year. He said the government co-financing is 179 million drams. ($1 – 376.11 drams). -0-
