ArmInfo. Issues related to the construction of the Kajaran- Agarak road section of the North-South transport corridor were discussed during the mission of the Eurasian Fund for Stabilization and Development (EFSD).
As reported by the press service of the Ministry of Territorial Administration and Infrastructure of the Republic of Armenia, on August 25 to August 28, a long-term mission of the Eurasian Fund for Stabilization and Development took place, during which the construction of the Kajaran-Agarak section within the framework of the 4th tranche of the investment program of the North-South automobile corridor was discussed. The construction of this section is financed by the Eurasian Fund for Stabilization and Development from the accounts of the Eurasian Development Bank. The road section is being designed by the Italian company IDR Engineering and GP Engineering.
During the mission, Andrey Glavatskikh, Head of the Transport and Communications Direction of the EFSD Project Block, and other specialists of the Fund discussed with Deputy Minister of Territorial Administration and Infrastructures of the RA Kristine Galechyan the main issues related to the construction of the Kajarak-Agarak road section within the framework of the 4th tranche of the program. It was recorded that the design work is ongoing. Geodetic and geological surveys are being carried out. The draft design will be presented to the customer in November. Together with the preliminary design of the road section, a draft land acquisition and resettlement plan will be presented, which will be finalized based on the results of the final design.
Deputy Minister Galechyan stressed the need for effective implementation of the program. Earlier, Arminfo, referring to Acting Executive Director of the Project Block at the Eurasian Fund for Stabilization and Development (EFSD) Andrey Shirokov, reported that the Eurasian Fund for Stabilization and Development (EFSD), the funds of which are managed by the Eurasian Development Bank (EDB), will direct about $ 150 million for the construction of the southern section of the highway in Armenia "North-South" within the 4th tranche of the program. According to him, at the moment the project is in the stage of active discussions with the government of Armenia, with which there is a constant dialogue, the bureau is working on the implementation of the project.
To recall, the North-South highway will reduce the distance from the Iranian to Georgian border from 556 to 490 kilometers. It will significantly facilitate access to the Black Sea not only for Armenia, but also for Iran. The project is initially funded with a loan from the Asian Development Bank. A corresponding agreement with ADB on the provision of half a billion dollars was signed by the Armenian government in September 2009. Subsequently, the EFSD joined the project, agreeing to provide $ 150 million. It was envisaged that the construction of the highway would be completed by 2016, but to date, only part of the work has been completed. In general, according to various estimates, the project is estimated at $ 2 billion, although it was initially planned to spend $ 980 million on its implementation.
The Eurasian Fund for Stabilization and Development (EFSD) in the amount of US $ 8.513 billion was established on June 9, 2009 by the governments of six countries, including Armenia. The goals of the EFSD are to assist the participating countries in overcoming the consequences of the global financial crisis, in ensuring their economic and financial stability, and supporting the integration processes in the region. The EFSD member states have endowed the EDB with the functions of the Fund Manager.
The Eurasian Development Bank (EDB) is an international financial organization designed to promote the economic growth of the member states, expand trade and economic ties between them and develop integration processes in the Eurasian space through investment activities. The Bank was established on the basis of an interstate agreement signed on January 12, 2006 by authorized representatives of the Russian Federation and the Republic of Kazakhstan. The initiative to create the Bank belongs to the Presidents of Russia and Kazakhstan. In 2009, the Republic of Armenia and the Republic of Tajikistan, in 2010 - the Republic of Belarus, and in 2011 - the Kyrgyz Republic became full members of the Bank.
