EBRD will provide a grant of EUR 2.65 million to Armenia for  upgrading of Gyumri road network

ArmInfo.The European Bank for Reconstruction and Development (EBRD) will provide a grant of EUR 2.65 million to Armenia for the upgrading of the Gyumri  road  network.

As the press service of the Ministry of Finance of Armenia reports,  the Republic of Armenia, the Gyumri Municipality and the EBRD signed  a grant agreement "Gyumri Urban Roads. Tranche B".

The agreement provides for the allocation of EUR 2.65 million for the  reconstruction of roads and sidewalks, the modernization of the  drainage system. As part of the program, it is planned to carry out  work to improve road safety, install light-emitting diode (LED)  lamps, street lighting and other equipment.

According to the source, the EBRD has already allocated EUR14.6  million in loan and EUR 7.3 million in grant funds to finance the  modernization of road infrastructure in Gyumri.  On October 10,  ArmInfo reported that the Government of Armenia approved the signing  of a grant agreement between Armenia, Gyumri Municipality and the  European Bank for Reconstruction and Development on the program for  the reconstruction and repair of roads in Gyumri (Tranche B and  Tranche D) in the amount of 4.65 million euros (two Tranches - EUR  2.65 million and EUR 2 million ).