ArmInfo.The European Bank for Reconstruction and Development (EBRD) will lend $236 million to Armenia to finance the construction of the southern section of the Sisian-Kajaran road of the North-South transport corridor. Discussions are currently taking place in the Armenian parliament regarding the agreement with the Bank that has been submitted for ratification.
As Kristine Galechyan, the Deputy Minister of Territorial Administration and Infrastructure of the Republic of Armenia, noted in her speech, the agreement was signed on May 15 of the current year. The project plans to build a new 60 km section of the road. Implementation of the program will increase traffic speed from 50 km/h to 100 km/h, as well as improve the comfort and safety. The construction of this road section will also contribute to increased trade turnover, reduced transport costs, attracting transit transport, and developing tourism. The construction work includes building a three-lane road with asphalt concrete pavement, 5 tunnels, 11 bridges, 68 fences and 43 retaining walls. The project is scheduled for completion by November 2032.
