EDB and Armenian Government agree on financing the construction of the North-South road corridor (Phase 4) in Armenia
Yerevan, 14 April 2015. Today, the Republic of Armenia and Eurasian Development Bank (EDB) signed an agreement in Yerevan on the provision of an investment credit from the Eurasian Economic Community’ Anti-Crisis Fund (ACF) to finance the construction of the North-South road corridor (Phase 4). The credit totals US $150 million and will be provided for twenty years.
The agreement was signed during EDB’s visit to Armenia. The delegation was headed by Dmitry Pankin, Chairman of the Management Board. The project will help to increase transport capacity and reduce accidents at the 20.5 km section of the North-South road from Agarak towards Kajaran. In addition, it will help to provide favourable transport conditions for adjacent settlements and boost cargo transit through Armenia, to other EDB member states in particular.
“On 2 April 2015 the ACF Council approved the draft agreement for this project and it was signed today,” says Dmitry ...14 April, 2015
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