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`Second Additional Financing to the Program on Improvement of the
Vital Significance Roads' loan contract signed
YEREVAN, JULY 23, ARMENPRESS: Armenia and the European Bank for
Reconstruction and Development signed today `Second Additional
Financing to the Program on Improvement of the Vital Significance
Roads' $40 million cost loan contract. The contract was signed by the
Armenian Finance Minister Tigran Davtyan and acting director of the WB
Armenia office Naira Melkumyan.
The program is directed toward restoration of the roads of vital
significance and creation of additional jobs in the road construction
sphere.
The loan is provided with the 25-year pay off term, the 10 years of
which in privileged terms, fluctuating interest rate.
The second additional financing was approved July 16 by the Board of
Directors of the World Bank.
Tigran Davtyan said that this contract is the continuation of the
programs carried out by the state in the road construction sphere. The
main goal is the restoration of the roads of communities and
provinces.
Naira Melkumyan presented the content of the program, spoke about the
main program and the previous financings. About 153-km roads have
already been restored - including the 35-km is in process intended by
the first additional financing of the program.
The first program exceeded the goals restoring additional 18-km of roads.
Melkumyan assured that by the end of the year construction of 50-km
long road is expected, the construction of the rest will launch in
spring.
From: A. Papazian
Vital Significance Roads' loan contract signed
YEREVAN, JULY 23, ARMENPRESS: Armenia and the European Bank for
Reconstruction and Development signed today `Second Additional
Financing to the Program on Improvement of the Vital Significance
Roads' $40 million cost loan contract. The contract was signed by the
Armenian Finance Minister Tigran Davtyan and acting director of the WB
Armenia office Naira Melkumyan.
The program is directed toward restoration of the roads of vital
significance and creation of additional jobs in the road construction
sphere.
The loan is provided with the 25-year pay off term, the 10 years of
which in privileged terms, fluctuating interest rate.
The second additional financing was approved July 16 by the Board of
Directors of the World Bank.
Tigran Davtyan said that this contract is the continuation of the
programs carried out by the state in the road construction sphere. The
main goal is the restoration of the roads of communities and
provinces.
Naira Melkumyan presented the content of the program, spoke about the
main program and the previous financings. About 153-km roads have
already been restored - including the 35-km is in process intended by
the first additional financing of the program.
The first program exceeded the goals restoring additional 18-km of roads.
Melkumyan assured that by the end of the year construction of 50-km
long road is expected, the construction of the rest will launch in
spring.
From: A. Papazian