Thursday, October 10 2019 12:58
Alexandr Avanesov

EBRD to provide EUR 4.6 million grant to Armenia to continue Gyumri  city road rehabilitation program

EBRD to provide EUR 4.6 million grant to Armenia to continue Gyumri  city road rehabilitation program

ArmInfo.The European Bank for Reconstruction and Development (EBRD) will provide Armenia with a grant of 4.6 million euros to continue the program for the  restoration of roads and urban lighting in the Armenian city of  Gyumri. At the October 10 meeting, the RA Government approved an  agreement with the Bank for signing.

According to the Minister of Territorial Administration and  Infrastructures of the Republic of Armenia Suren Papikyan, the funds  will be distributed in tranches. So, in the framework of tranche-2,  the republic will receive 2.6 million euros, and within the tranche-3  - 2 million euros. The funds will be used to modernize roads and city  lighting, sewage disposal systems, as well as to develop a strategy  for creating car parks. The Minister emphasized that the program has  been implemented since 2016, and extensive work has been carried out  during this period. By the end of the year, design and estimate  documentation for the second and third tranches will be fully  completed, which will increase the volume of work in 2020.  RA Prime  Minister Nikol Pashinyan also pointed out the importance of expanding  the hotel chain, especially given the increase in tourist flow.  According to him, there are investment proposals for the construction  of new modern hotels, and the most serious attention should be paid  to them. "I consider it important to maintain the momentum," said the  head of government.

Recall that, as ArmInfo previously reported, the agreement on the  implementation of the grant program was signed on May 11, 2016 in  London.

According to the document, the EBRD will provide Armenia 14.6 million  euros to improve the network of roads, night lighting systems and  wastewater in Gyumri. As part of the first tranche of the program the  republic has already received 2.56 million euros.

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