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EIB To Assign $5mln For Yerevan Metro Rehabilitation Project

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  • EIB To Assign $5mln For Yerevan Metro Rehabilitation Project

    EIB TO ASSIGN $5MLN FOR YEREVAN METRO REHABILITATION PROJECT

    PanARMENIAN.Net
    August 10, 2010 - 15:15 AMT 10:15 GMT

    The European Investment Bank signed a $5mln loan agreement with
    Armenia for implementation of Yerevan Metro Rehabilitation project.

    As reported by the press office of the RA Ministry of Finance, the
    sum is a part of a $15mln project envisaged for implementation of the
    first stage of the project. The loan will be provided for 15 years
    with 4 year grace period.

    According to an agreement concluded on March 10, 2010, the European
    Bank for Reconstruction and Development will allocate another $5mln
    in the framework of Neighborhood Investment Program.

    The project consists of the addressing the problem of the water
    ingress into the metro tunnels, modernization of the infrastructure
    and refurbishment of the rolling stock.




    From: A. Papazian
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