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EBRD, EU READY TO EXPAND COOPERATION WITH YEREVAN MUNICIPALITY UNDER METRO MODERNIZATION PROJECT
YEREVAN, January 31. /ARKA/. The head of EU delegation to Armenia
Traian Hristea and the head of EBRD Yerevan office Valeriu Razlog
expressed satisfaction with the outcome of their cooperation with the
Yerevan municipality under the Yerevan metro modernization project,
the press service of the municipality reported.
During the meeting with the mayor of Yerevan Taron Margaryan resident
representative of Asian Development Bank (ADB) mission David Dole as
well expressed his willingness to cooperate under this project.
Margaryan highly appreciated the results of the joint project, thanked
his conversation partners for the support and suggested discussing the
possibility of increasing metro branch lines under the future project
In 2012, the European Bank for reconstruction and development
(EBRD) extended a loan worth 5 mln euros to Armenia for continuing
re-equipping and reconstructing the Yerevan Metro. Another 5 million
euros will be given by the European Investment Bank in a loan, whereas
the EU Neighborhood Investment Instrument will provide equal amount
in a grant.
In 2010, the EBRD, the EIB and the EU provided a total of 15mln
euros for the first stage of the project to increase reliability,
energy efficiency and safety of the Yerevan Metro. The savings made
after the completion of the first stage were used to fully modernize
and repair 8 cars.
The Yerevan Metro after Karen Demirchyan was founded in 1981. Today
the Metro has ten stations. The total length of the lines is 13.4
kilometers. -0-
YEREVAN, January 31. /ARKA/. The head of EU delegation to Armenia
Traian Hristea and the head of EBRD Yerevan office Valeriu Razlog
expressed satisfaction with the outcome of their cooperation with the
Yerevan municipality under the Yerevan metro modernization project,
the press service of the municipality reported.
During the meeting with the mayor of Yerevan Taron Margaryan resident
representative of Asian Development Bank (ADB) mission David Dole as
well expressed his willingness to cooperate under this project.
Margaryan highly appreciated the results of the joint project, thanked
his conversation partners for the support and suggested discussing the
possibility of increasing metro branch lines under the future project
In 2012, the European Bank for reconstruction and development
(EBRD) extended a loan worth 5 mln euros to Armenia for continuing
re-equipping and reconstructing the Yerevan Metro. Another 5 million
euros will be given by the European Investment Bank in a loan, whereas
the EU Neighborhood Investment Instrument will provide equal amount
in a grant.
In 2010, the EBRD, the EIB and the EU provided a total of 15mln
euros for the first stage of the project to increase reliability,
energy efficiency and safety of the Yerevan Metro. The savings made
after the completion of the first stage were used to fully modernize
and repair 8 cars.
The Yerevan Metro after Karen Demirchyan was founded in 1981. Today
the Metro has ten stations. The total length of the lines is 13.4
kilometers. -0-