ArmInfo. On July 2, the extraordinary session of the National Assembly of the Republic of Armenia discussed the draft agreement with the Asian Development Bank submitted by the RA government for ratification.
According to Kristine Ghalechyan, Deputy Minister of Territorial Administration and Infrastructure of the Republic of Armenia, the Loan Agreement between the Republic of Armenia and the Asian Development Bank on the Resilient and Inclusive Road Sector Improvement Project provides for a loan of 236.000.000 euros to Armenia. It will finance the construction of the Northern Subsection of the new Sisian-Kajaran road section, which is about 60 km long.
Within the framework of the Agreement, a 27.1 km long asphalt concrete road with a climate and disaster resistance will be constructed. The construction works of the road section include the construction of an asphalt concrete road, 3 tunnels with a total length of about 1.8 km, 16 bridges with a total length of about 3 km, 83 culverts, and 28 concrete retaining walls.
The construction period is 6 years, and the quality liability period is 2 years. The loan will be provided for a period of 24.5 years, the grace period is 12 years, the repayment period is 12.5 years. The annual interest rate will be about 3.4%.
