Monday, June 20 2016 19:03
Alina Hovhannisyan

Asian Development Bank expands cooperation with Yerevan municipality

Asian Development Bank expands cooperation with Yerevan municipality

ArmInfo. Asian Development Bank (ADB) intends to expand cooperation with Yerevan municipality, Alternate Executive Director of ADB Mario Di Maio stated at the meeting with Yerevan Mayor Taron Margaryan on June 20, the press-service of the municipality informs.

Expressing gratitude for a warm reception the representative of ADB highly assessed the current results of the program on road construction and in this context stressed that Yerevan municipality is the Bank's reliable partner. You can be sure that I will do everything possible from my side to expand our cooperation and to raise it to a new level, he said.

Yerevan Mayor in his turn noted that cooperation with ADB has been successful and efficient in recent years. The financing provided by ADB for construction of roads within Sustainable Urban Development Program is very important as it will allow to unclog the streets of the capital" Margaryan stated expressing readiness to cooperate with ADB in other sectors of economy.

To recall, the Asian Development Bank will provide a 112,960 mln USD loan to Armenia for implementation of the Sustainable Urban Development Investment Program 2. The program will be implemented till 2020. The matter particularly concerns rehabilitation of the roads from Arshakunyats- Bagratunyats crossroad to Noragavit, continuing towards the Artashat highway and joining the North-South road corridor. This part of the project will be finished at the end of 2017.  It is particularly planned to extend the road from Noragavit to Argavand-Shirak crossroad, then farther to Babajanyan Street in Malatia Sebastia, reaching the Ashtarak highway. The third direction is from the Davitashen bridge to Ashtarak highway.


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