The RA President Serzh Sargsyan presented the “City Stable Development Investment Program-2” loan agreement program to the National Assembly signed in October 2015 between the Government and the Asian Development Investment Bank. The First Deputy Mayor of Yerevan Kamo Areyan today reported about this project in the NA. He said that according to this agreement the Bank will provide to the RA 112mil 960k US dollars loan resource. “The Program aims to be implemented and completed by 2020. Redemption period is 22 years, privileged period is 12 years, rate is floating”- Mr. Areyan noted.

The loan agreement includes 2 major parts. He informed that this is the second tranche. The first tranche is 60 mil dollar loan program which implemented and implements the following road construction; Arshakunyats Avenue – Banvori Ardzan (the statue of worker); down from Bagratunyac street to Noragavit, the continuation; by the large transport hub to Artashat causeway and junction from the part of the North-South road leading to Artashat. Work worth 25 million USD has been conducted already. Kamo Arelyan said that the program shall be completed by the end of 2017.

The second tranche shall be used to build a section from Noragavit to Argavand; from there to Babajanyan Street, then to Ashtarak highway by Davtashen district branch. Mr. Arelyan said the whole length of the road will be 17 kilometers.

Iravaban.net