Time in Yerevan: 11:07,   2 March 2024

Government involves over $236,000,000 in loan for North-South project in Syunik

Government involves over $236,000,000 in loan for North-South project in Syunik

YEREVAN, MAY 2, ARMENPRESS. Armenia is involving over $236,000,000 in loan for the construction of the North-South Road Corridor in Syunik Province. The loan will be used for the construction of a 32-kilometer long tunnel and 17 bridges in Kajaran and two tunnels in Meghri and Litchk. 

The bill on ratifying the agreement was presented in parliament on May 2.

The agreement was signed between the government of Armenia and the Eurasian Development Bank.

It is planned to start construction this year.

The bill also seeks to extend the term of the loan agreement until 30 December, 2026 and increase the size of co-financing by 86,6 million dollars, thus the project’s budget will stand at 236 million 681 thousand dollars.

 








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