Armenia to receive $200 million investment loan for Kajaran tunnel construction

YEREVAN, AUGUST 15, ARMENPRESS. Armenia will receive a 200-million-dollar investment loan from the Eurasian Fund for Stabilization and Development to finance the construction of the Kajaran tunnel.

The legislative initiative on approving the agreement, signed on July 26 with the Eurasian Development Bank, passed at the Cabinet meeting on August 15.

The purpose of the project is to increase the potential of transit and increase safety in the section of the North-South Road Corridor.

The funds will be used for the construction of the 7km Kajaran tunnel, and the reconstruction of the existing M2 Yerevan-Yeraskh-Goris-Meghri-Iranian border road’s 4km (entrance of Kajaran tunnel to Sisian-Kajaran new road intersection).