Armenian parliament ratifies loan agreement with ADB for constructing North-South transport corridor
24.06.2011,
00:03
Armenian National Assembly ratified a loan agreement between the Armenian government and the Asian Development Bank at its extraordinary session on Thursday.
YEREVAN, June 23. /ARKA/. Armenian National Assembly ratified a loan agreement between the Armenian government and the Asian Development Bank at its extraordinary session on Thursday.
The agreement was signed on May 30, 2011 to implement the second component of the program of construction of the North-South transport corridor.
Economy Minister Tigran Davtyan said that the $170 million, the second on tranche of the credit, would be lent for 20 years with four-year grace period at LIBOR+0.3% interest rate.
He said that this money would be spent for rehabilitation of 41 kilometers of Ashtarak-Talin road, a section of North-South corridor.
The minister said that a tender will be announced for choosing a contractor.
He said that construction would be carried out in accordance with international standards. The construction will be completed by the end of this year.
Davtyans aid that construction of the first section of the highway has been suspended for construction of another, badly dilapidated section.
It was also decided to unite two sections for attracting large companies to the construction.
The program and the $500-million agreement with the Asian Development Bank were approved by the Armenian government on January 14, 2010. -0-
The agreement was signed on May 30, 2011 to implement the second component of the program of construction of the North-South transport corridor.
Economy Minister Tigran Davtyan said that the $170 million, the second on tranche of the credit, would be lent for 20 years with four-year grace period at LIBOR+0.3% interest rate.
He said that this money would be spent for rehabilitation of 41 kilometers of Ashtarak-Talin road, a section of North-South corridor.
The minister said that a tender will be announced for choosing a contractor.
He said that construction would be carried out in accordance with international standards. The construction will be completed by the end of this year.
Davtyans aid that construction of the first section of the highway has been suspended for construction of another, badly dilapidated section.
It was also decided to unite two sections for attracting large companies to the construction.
The program and the $500-million agreement with the Asian Development Bank were approved by the Armenian government on January 14, 2010. -0-
