Armenia to receive up to 236 million euros from EIB for construction of Sisian-Kajaran highway
YEREVAN, April 25. /ARKA/. Armenia plans to ratify the financial agreement signed on November 12, 2024 with the European Investment Bank (EIB) for the construction of the Sisian-Kajaran road section in the Syunik region.
The Armenian government approved the bill on ratification of this agreement on January 9 of this year.
“According to the document, the bank will provide Armenia with up to 236 million euros. The funds will be used to finance the construction of a new 60-kilometer road between Sisian and Kajaran,” said Deputy Minister of Territorial Administration and Infrastructure Kristine Ghalechyan at a meeting of the parliamentary committee on financial, credit and budgetary issues on Friday.
According to her, the program will be implemented in 3 sub-sections - the northern (from Sisian to Shenatakh) - 27.1 km, the Bargushat tunnel - 8.6 km and the southern - 24.25 km.
"The funds provided for in the agreement will be used for the construction of the northern and southern sub-sections of the project," Galechyan emphasized, adding that the program will also be co-financed by the European Bank for Reconstruction and Development (EBRD).
The deputy minister also reported that within the framework of the project, a road with 3 traffic lanes, 27 bridges with a total length of 4.7 km, 8 tunnels with a total length of about 4 km will be built in the northern and southern sections.
Galechyan noted that the project is planned to be completed by December 2033. This road, which is part of the interstate North-South highway, will reduce the travel time by 54 km and increase the average travel speed from 50 km/h to 100 km/h. As a result, travel time will be reduced by one and a half hours. The construction of this section will also contribute to an increase in trade turnover, a reduction in transport costs, the attraction of transit transport and the development of tourism. -0-
About the EIB in Armenia
The EIB has been cooperating with Armenia since 2010, operating in the country in line with the Eastern Partnership programme of the European Neighbourhood Policy and other bilateral agreements with the EU. Over the past decade, the Bank has financed a range of projects: from infrastructure and small businesses to water supply and wastewater treatment services. The EIB also finances the construction of cross-border communications to improve the safety and sustainability of roads. -0-
