ArmInfo. On December 23, the Armenian government approved the draft law on the ratification of the Yerevan Bus Program loan agreement signed on November 24 at the RA Ministry of Finance between the Republic of Armenia and the European Bank for Reconstruction and Development (EBRD).
Within the framework of the document, Armenia will receive credit funds in the amount of 20 million euros for a period of 15 years.
According to the explanation to the document, within the framework of the investment program for sustainable urban development, the WYG consulting company has developed a new route network for public transport in the Armenian capital. It is planned to import 845 buses of different sizes to service the new route network. According to preliminary estimates, the purchase of new buses serving public transport in the city of Yerevan will require 120-150 million euros.
Under the agreement with the EBRD, Armenia will receive 25 million euros for the purchase of city buses and the modernization of the urban transport network, of which 5 million euros will be provided by the Eastern Europe Energy Efficiency and Environment Partnership (E5P) as a grant.
