EBRD provides Armenia with 25 million to establish Yerevan  municipal transport company

ArmInfo.The European Bank for Reconstruction  and Development (EBRD) announced the so-called allocation of Armenia  a sovereign loan of 25 million euros to create a municipal transport  company in Yerevan.

The company will be created to operate the bus  network in Yerevan.  According to EBRD, the project will finance the  purchase of new modern 12-meter buses operating on compressed natural  gas.

It is reported that the project is part of a broader program aimed at  assisting the Armenian capital in reforming its public transport  system by financing the renewal of the bus fleet in anticipation of  the restructuring of the entire bus network. The project will improve  the reliability, safety and efficiency of public transport, while gas  technology will reduce air pollution in accordance with the EDB Green  Cities Framework and the Green City Action Plan, approved by Yerevan  in 2017.