Armenia hopes to deepen cooperation with ADB: transport minister

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Economy

07.11.2011, 20:15

Armenia hopes to deepen cooperation with the Asian Development Bank (ADB), Manuk Vardanian, Minister of Transport and Communication of Armeniaб said Friday during a meeting with newly appointed head of ADB Mission in Armenia David Dole.

YEREVAN, November 7. / ARKA /. Armenia hopes to deepen cooperation with the Asian Development Bank (ADB), Manuk Vardanian, Minister of Transport and Communication of Armeniaб said Friday during a meeting with newly appointed head of ADB Mission in Armenia David Dole, the press service of the Ministry of Transport and Communication said.

According to a press release, Vardanian congratulated Dole on his appointment and spoke about ADB-funded road projects in Armenia, in particular, the construction of North-South transport corridor.

The Armenian government approved January 14, 2010 an investment program to build North-South transport corridor, as well as a $500 million framework financial agreement between Armenia and the Asian Development Bank.

The North-South transport corridor will enable Armenia to mitigate the effects of the blockade of Armenia by Azerbaijan and Turkey, play an important role in freight transit in the region, as well as join the Black Sea Ring Highway. -0-

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