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ANTI-CRISIS FUND BOARD OF EURASEC APPLAUDS CONCEPTS OF 2 PROJECTS IN ARMENIA
YEREVAN, June 27./ARKA/. The Anti-crisis Fund Board of EurAsEC
approved the concepts of three investments projects to be implemented
in Armenia and Kyrgyzstan the day before, the Eurasian Development Bank
(EDB) reported to ARKA on Thursday.
The Board is also said to have approved the resolutions of the Eurasian
Development Bank --Fund Manager-- related to submission of initial
applications to get Fund's financing. Such decisions make it possible
to start feasibility study.
Two projects will be implemented in Armenia : modernization and
development of irrigation systems' institutional opportunities and
North-South corridor construction (4th round). And one project will be
implemented in Kyrgyzstan: financing agricultural machinery delivery
to Kyrgyzstan.
At the meeting, the Board also approved the annual report on Fund
Manager's performance for 2012, discussed the activities of the
Fund in the current year and some other issues related to the Fund's
further development.
Earlier this month, head of EDB Yerevan office Sergey Ignatov told
ARKA the allocation of $100 million by the European Development Bank
for construction of North-South highway in Armenia might be discussed
at the end of June.
If the decision is positive, the bank will be waiting for the
feasibility study from the country's ministry of transport. After the
study results are discussed with the Anti-crisis fund, the project
may be finally approved, Ignatov said.
On January 14 2010 Armenia's government approved the investment
project for construction of North-South road corridor and the
framework agreement between Armenia and the Asian Development Bank
for 500 million dollars.
The construction of the corridor is expected to be completed in 2017.
The road will extend 556 kilometers to the Black Sea and Europe via
Armenia (Meghri-Kapan-Goris-Yerevan-Ashtarak-Giumry-Bavra) and Georgia.
Eurasian Development Bank (EDB) is an international financial
organization established by Russia and Kazakhstan in 2006 to help
develop market economies and boost mutual trade ties in member states.
The bank's authorized stock is over 1.5bln US dollars. The
member-states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia
and Tajikistan.
Anti-crisis Fund was established by the same states on 9 June 2009.
Its goal is to support the member states in their efforts to
recover from the global financial crisis shocks and ensure
their financial sustainability and economic progress. EDB
is authorized to manage the Fund's means.-0- - See more at:
http://arka.am/en/news/business/anti_crisis_fund_board_of_eurasec_applauds_concept s_of_2_projects_in_armenia/#sthash.RlTxa14e.dpuf
YEREVAN, June 27./ARKA/. The Anti-crisis Fund Board of EurAsEC
approved the concepts of three investments projects to be implemented
in Armenia and Kyrgyzstan the day before, the Eurasian Development Bank
(EDB) reported to ARKA on Thursday.
The Board is also said to have approved the resolutions of the Eurasian
Development Bank --Fund Manager-- related to submission of initial
applications to get Fund's financing. Such decisions make it possible
to start feasibility study.
Two projects will be implemented in Armenia : modernization and
development of irrigation systems' institutional opportunities and
North-South corridor construction (4th round). And one project will be
implemented in Kyrgyzstan: financing agricultural machinery delivery
to Kyrgyzstan.
At the meeting, the Board also approved the annual report on Fund
Manager's performance for 2012, discussed the activities of the
Fund in the current year and some other issues related to the Fund's
further development.
Earlier this month, head of EDB Yerevan office Sergey Ignatov told
ARKA the allocation of $100 million by the European Development Bank
for construction of North-South highway in Armenia might be discussed
at the end of June.
If the decision is positive, the bank will be waiting for the
feasibility study from the country's ministry of transport. After the
study results are discussed with the Anti-crisis fund, the project
may be finally approved, Ignatov said.
On January 14 2010 Armenia's government approved the investment
project for construction of North-South road corridor and the
framework agreement between Armenia and the Asian Development Bank
for 500 million dollars.
The construction of the corridor is expected to be completed in 2017.
The road will extend 556 kilometers to the Black Sea and Europe via
Armenia (Meghri-Kapan-Goris-Yerevan-Ashtarak-Giumry-Bavra) and Georgia.
Eurasian Development Bank (EDB) is an international financial
organization established by Russia and Kazakhstan in 2006 to help
develop market economies and boost mutual trade ties in member states.
The bank's authorized stock is over 1.5bln US dollars. The
member-states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia
and Tajikistan.
Anti-crisis Fund was established by the same states on 9 June 2009.
Its goal is to support the member states in their efforts to
recover from the global financial crisis shocks and ensure
their financial sustainability and economic progress. EDB
is authorized to manage the Fund's means.-0- - See more at:
http://arka.am/en/news/business/anti_crisis_fund_board_of_eurasec_applauds_concept s_of_2_projects_in_armenia/#sthash.RlTxa14e.dpuf