Yerevan mayor and ADB discussed urban development program course

YEREVAN, July 31. /ARKA/. Yerevan Mayor Taron Margaryan and Asian Development Bank representatives discussed Monday a course of urban development program’s implementation, the Municipality reported.

On June 23, 2001, Armenia’s parliament ratified the framework agreement on $400-million investment program for sustainable urban development signed between Armenian government and ADB on March 24.

The program relates to constructing two roads in Yerevan- in the direction of Shirak street from Argavand transport hub and Artashat highway- from Arshakunyats-Shirak streets. 

The loan is given for 32 years with an 8-year preferential period at 1$ annual rate. Another 20% of the funds should be contributed by the government.

Yerevan Mayor noted that he had instructed the responsible bodies to change the structure of the staff involved into the implementation of the program in order to improve its course and efficiency.

“At the last meeting I underscored the necessity to launch the program as soon as possible, and now I confirm once again the priority of this program , and I can ensure that we are ready for the long-term cooperation,” Margaryan said.

On his side, Director of Urban Development and Water Supply Department of the Central and Western Asia at ADB Dr. Anand Chiplunkar expressed his gratitude to the Mayor for showing assistance with program implementation. He said the working groups of the ADB and Municipality are conducting very intensive works, and the Mayor will be periodically reported about the course of the program.

We do everything to make sure the consulting companies that won the international tender start implementing process as soon as possible, he noted.—0--