ArmInfo. The global division of the European Investment Bank (EIB Global) has signed a loan of up to 236 million euros to finance the construction of the Sisian- Kajaran road - a crucial segment of the North-South transport corridor, as stated in the official statement of the European Investment Bank.
According to EIB Vice-President Tereza Czerwinska, this transformative project will become a major artery in the region's transport network, providing Armenia with better access to global markets and helping to shape a more interconnected, resilient future. <This is the largest ever financial contract between the EIB and Armenia. We are pleased to be supporting this project that will promote sustainability, boost economic resilience and strengthened connectivity between Europe, Asia and the Middle East," she noted. According to the source, this climate-resilient piece of infrastructure will contribute to climate change mitigation by reducing travel distances, vehicle operating costs and road accidents. Enhanced road safety is another key feature of the project, which will offer safer and faster routes for travelers and goods. The EIB assured that the project will facilitate access to both domestic and international markets, and contribute to the sustainable socio-economic development of Syunik.
