YEREVAN. – The Armenian government will receive 51 million euro loan from the European Investment Bank.
The loan agreement is approved at the governmental session of April 28. As stated by the Deputy Minister of Transport and Communication Artur Arakelyan, the amount will be used to fundamentally repair 90 km highway extending from Vanadzor to Alaverdi and to the border of Georgia (Bagratashen).
The total cost of the construction is 102 million euros. The Asian Development Bank is another potential donor that Armenia plans to attract. The program is aimed at fully repairing the roadway, all the bridges and tunnels , and in some cases building new ones. The work is scheduled to begin this year. It will be completed before 2020 .