Armenia to take a $200 million loan from EFSD for construction of Kajaran tunnel

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06.11.2024, 14:28

The parliamentary standing committee on financial and budgetary issues approved today the ratification of a $200 million loan agreement between Armenia and the Eurasian Fund for Stabilization and Development (EFSD) by the parliament for building the Kajaran tunnel near the border with Iran.

Armenia to take a $200 million loan from EFSD for construction of Kajaran tunnel

YEREVAN, November 6. /ARKA/. The parliamentary standing committee on financial and budgetary issues approved today the ratification of a $200 million loan agreement between Armenia and the Eurasian Fund for Stabilization and Development (EFSD) by the parliament for building the Kajaran tunnel near the border with Iran.

The program aims to enhance the potential of transit transportation and reduce accidents on the North-South road corridor.

According to the project, a tunnel approximately 7 km long is planned to be built near the city of Kajaran, and a section of the M2 highway (Yerevan-Yeraskh-Goris-Meghri-Iranian border) about 4 km long will be reconstructed.

The construction work is expected to take about 6 years. -0-

#RECONSTRUCTION YEAR

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