The Ministry of Transport of Armenia expressed hope for continuation of cooperation with the EIB within the framework of road construction programs

ArmInfo. The Minister of  Transport, Communications and Information Technologies Vahan  Martirosyan expressed his hope at the meeting with the delegation of  the European Investment Bank (EIB) that the interaction within the  programs of road construction will be continued.

 According to the press service of the Ministry of Transport, the  interlocutors discussed the implementation of joint programs, in  particular, issues related to the overhaul of the interstate  90-kilometer Vanadzor- Alaverdi-Georgia highway (M-6). The minister  stressed the strategic importance for Armenia of the road linking the  republic with Georgia. According to him, great work has already been  done. "M-6 is built in accordance with the approved construction  standards," Martirosyan said, stressing the importance of completing  the construction in a short time.

The Armenian Ministry of Transport and representatives of the EIB  also discussed the implementation of works on the section of  Tallinn-Gyumri within the framework of the program for the  construction of the North-South road corridor.

According to the previously ratified agreement, Armenia will receive  a ? 102 million loan from the European Investment Bank to repair the  road from Vanadzor to the border with Georgia. The program will be  co-financed by the European Investment Bank and the Asian Development  Bank. The purpose of the program is to restore the interstate M-6  highway, 90 km from Vanadzor to Bagratashen. The work on the  restoration of the program is planned to be completed within 2-2.5  years. Within the program, it is planned to expand the roadbed, as  well as make changes to some of its sections, increase the level of  safety and fully modernize the tunnel system. About 60% of the  freight traffic from Armenia falls to this section of the road.

Earlier it was reported that the European Investment Bank intends to  invest about 212 million euros in Armenia. Moreover, only in the past  three years the EIB has substantially increased the volume of  investments in Armenia. The cooperation of the bank with Armenia is  based on three priority areas - energy supply, development and  support of infrastructures, support for SMEs.