YEREVAN, DECEMBER 6, ARMENPRESS. The Armenian government has extended the 2012 November 23 loan agreement signed with the European Bank for Reconstruction and Development (EBRD) on the modernization of the northern border checkpoint of Armenia.

“In accordance to the agreement it is envisaged to build a new bridge on the River Debed in the territory of the Bagratashen border checkpoint. Georgia has expressed readiness to fund the construction of the section in its territory, as a result of which Georgia and the bank signed a loan agreement in 2016. As a result, loan funds provided to Armenia have been cancelled by 4,2 million Euros by ensuring the equal funding of the parties. Given that the loan agreement’s term has already expired, there is a need to extend it until May 23, 2022,” Deputy Minister of Transportation, Communication and Information Technologies Bagrat Badalyan said at the Cabinet meeting today.

Edited and translated by Stepan Kocharyan