News - EBRD to grant Armenia €236M loan for road construction within North-South project framework

The European Bank for Reconstruction and Development (EBRD) will provide Armenia with a loan of 236 million euros for the construction of the Kajaran-Sisian road section of the North-South international transport corridor project. The total cost of this project is about 373 million euros. The new road will be divided into northern, southern, and central sections. The aforesaid loan will be spent on the construction of the southern section. This road will shorten the Kajaran-Sisian distance from 118 to 60 kilometers, and the average speed will increase from 50 to 100 kilometers per hour. The construction of this road is planned to be completed by 2030. The signing of the respective loan agreement is planned within the framework of the EBRD annual meeting, which started Tuesday and will conclude on Thursday.