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DONORS POSTPONED DISBURSEMENTS FOR CITY HALL PROJECTS
One of the issues on the agenda of the extraordinary meeting of the
Council of Elders of Yerevan was the budget cuts.
According to the draft decision, estimates will be reduced by
9,275,721,500 drams as international donors postpone disbursements. A
cut of 3,748,495,000 drams is under the project of reconstruction of
the underground financed by EBRD, European Neighborhood Investment
Facility and the European Investment Bank. According to the City
Hall, two of the three projects of the second phase of the program
of underground reconstruction will be moved to the next year because
the sum agreed during the negotiations with the EIB and ENIF will be
disbursed after signing the grant agreement with the ENPI expected
to take place in October 2013.
4,388,943,400 drams was cut under the Urban Infrastructure and
Sustainable Urban Development Investment Program funded by the Asian
Development Bank. The City Hall explains that the project has been
partly moved to next year due to the advisor's failure to meet the
deadlines and incorrect planning of estimates.
Technical assistance to water supply and drainage supported by the
French government has been postponed as well, resulting in another cut
of 896,923,300 drams. The City Hall explains the move of estimates
by the procedures of the French side which has officially notified
the government.
10:17 10/10/2013 Story from Lragir.am News:
http://www.lragir.am/index/eng/0/economy/view/31068
One of the issues on the agenda of the extraordinary meeting of the
Council of Elders of Yerevan was the budget cuts.
According to the draft decision, estimates will be reduced by
9,275,721,500 drams as international donors postpone disbursements. A
cut of 3,748,495,000 drams is under the project of reconstruction of
the underground financed by EBRD, European Neighborhood Investment
Facility and the European Investment Bank. According to the City
Hall, two of the three projects of the second phase of the program
of underground reconstruction will be moved to the next year because
the sum agreed during the negotiations with the EIB and ENIF will be
disbursed after signing the grant agreement with the ENPI expected
to take place in October 2013.
4,388,943,400 drams was cut under the Urban Infrastructure and
Sustainable Urban Development Investment Program funded by the Asian
Development Bank. The City Hall explains that the project has been
partly moved to next year due to the advisor's failure to meet the
deadlines and incorrect planning of estimates.
Technical assistance to water supply and drainage supported by the
French government has been postponed as well, resulting in another cut
of 896,923,300 drams. The City Hall explains the move of estimates
by the procedures of the French side which has officially notified
the government.
10:17 10/10/2013 Story from Lragir.am News:
http://www.lragir.am/index/eng/0/economy/view/31068