EBRD lending $236 million to Armenia for construction of southern  section of Sisian-Kajaran road

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.