European Investment Bank signs EUR 236 mln to finance construction of  Sisian-Kajaran road

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.