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Interfax, Russia
March 7 2014
EDB could issue $100 mln loan to Armenia in 2014 to build North-South
road corridor
YEREVAN. March 7
EDB could issue $100 mln loan to Armenia in 2014 to build North-South
road corridor
The Eurasian Development Bank (EDB) could issue a loan for $100
million to Armenia for the construction of the North-South highway,
the bank said in a statement.
The project's feasibility study will be prepared at the end of April
this year, the statement cites representatives from the Armenian
government as saying.
The $100 million loan will be issued by the bank in its capacity as
manager of the Eurasian Economic Community's (EurAsEC) Anti-Crisis
Fund (ACF).
The EDB said that financing could begin as early as 2014 if the ACF
council gives its final approval of the project, which is set to occur
in June.
The EurAsEC Anti-Crisis Fund approved the blueprints for the project
in June of 2013, as well as the respective preliminary application for
ACF funding. These resolutions by the ACF council allowed preparation
for the feasibility study to begin, the EDB said.
The North-South transportation corridor joins Central Asia and India
with Iran, Georgia, Russia and Europe. Extending across Armenia from
south to north (Megri-Kapan-Goris-Yerevan-Ashtarak-Gyumri-Bavra), the
corridor is linked to the Georgian road network leading to Poti and
Batumi ports on the Black Sea and farther into Russia, the CIS and the
European Union. The North-South highway is also part of the Asian
Highway Network (AH82), which connects Central Asian countries such as
Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.
Kh ak
March 7 2014
EDB could issue $100 mln loan to Armenia in 2014 to build North-South
road corridor
YEREVAN. March 7
EDB could issue $100 mln loan to Armenia in 2014 to build North-South
road corridor
The Eurasian Development Bank (EDB) could issue a loan for $100
million to Armenia for the construction of the North-South highway,
the bank said in a statement.
The project's feasibility study will be prepared at the end of April
this year, the statement cites representatives from the Armenian
government as saying.
The $100 million loan will be issued by the bank in its capacity as
manager of the Eurasian Economic Community's (EurAsEC) Anti-Crisis
Fund (ACF).
The EDB said that financing could begin as early as 2014 if the ACF
council gives its final approval of the project, which is set to occur
in June.
The EurAsEC Anti-Crisis Fund approved the blueprints for the project
in June of 2013, as well as the respective preliminary application for
ACF funding. These resolutions by the ACF council allowed preparation
for the feasibility study to begin, the EDB said.
The North-South transportation corridor joins Central Asia and India
with Iran, Georgia, Russia and Europe. Extending across Armenia from
south to north (Megri-Kapan-Goris-Yerevan-Ashtarak-Gyumri-Bavra), the
corridor is linked to the Georgian road network leading to Poti and
Batumi ports on the Black Sea and farther into Russia, the CIS and the
European Union. The North-South highway is also part of the Asian
Highway Network (AH82), which connects Central Asian countries such as
Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.
Kh ak