EIB supports road upgrading scheme in Armenia
The European Investment Bank (EIB) is lending EUR 60 million to finance an upgrade of the north-south road corridor in Armenia. The project is part of an ambitious programme aimed at improving the 556 km route that runs from the border with Georgia at Bavra to the border with Iran at Meghri via the cities of Bavra, Gyumri, Ashtarak, Yerevan, Goris, Kapan and Meghri.
The project is being co-financed by the Asian Development Bank and the EU Neighbourhood Investment Facility (NIF). This is the sixth EIB operation in Armenia, bringing EIB lending commitments in the country to EUR 112 million. (ben)