ArmInfo. There will be no problems with the financing of the North-South investment program. The President of Armenia Serzh Sargsyan in an interview with the TV channel stated this. "There will be enough financial resources to implement the program," the president said.
According to him, changes in the project's estimated cost in the direction of its price increase are almost two-fold due to various circumstances. The initial assessment, he noted, did not take into account all the nuances that arose during the project implementation, since the program had no analogues in the history of Armenia. An important role was also played by the global financial crisis, which forced Armenia to increase the debt burden in order to maintain social stability inside the country. "We preferred the speedy construction of the road in the country. We could have an additional 150 km of the finished road, but at the same time, social tension in the country," said Serzh Sargsyan, stressing that long-term programs, of course, are mandatory for execution, but they subject to adjustments in accordance with the specific interests of the country.
In 2018, $ 47 million will be spent on the continuation of the program for the construction of the North- South transport corridor. The funds will be attracted in the form of loans from the Asian Development Bank, the European Investment Bank and the Eurasian Development Bank, another 2.8 billion drams will be received in the form of a grant from the European Investment Bank. The main front of work next year will unfold on the 84 km of the highway, which provides for laying concrete for 40-45 km. The works, in particular, will be carried out on the road section from the cities of Ashtarak to Gyumri. As a result, the road from 2 lanes will expand to 4, and instead of asphalt will be laid concrete.
Under the "North-South" program, the Armenian government calculated the preliminary savings of $ 2.5 per hour for each passenger and $ 1 per hour for transporting a ton of cargo. As the authorities of Armenia expect, the program will allow the country in the future to mitigate the consequences of the blockade by Azerbaijan and Turkey, to play the role of a transit state in the freight transportation of the countries of the region, and also to join the Black Sea ring highway.