Armenia requests ADB funding of 236 million euros for construction of Sisian-Kajaran road
Armenia has officially applied to the Asian Development Bank #40;ADB#41; in order to obtain EUR 236 million funding for the construction of Sisian-Kajaran road, the Armenian Finance Ministry said following a meeting of Minister Vahe Hovhannisyannbsp;nbsp;with ADB Deputy Executive Director Levelin Charles Roberts in Yerevan. br /
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YEREVAN, 18 July. /ARKA/. Armenia has officially applied to the Asian Development Bank (ADB) in order to obtain EUR 236 million funding for the construction of Sisian-Kajaran road, the Armenian Finance Ministry said following a meeting of Minister Vahe Hovhannisyan with ADB Deputy Executive Director Levelin Charles Roberts in Yerevan.
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This section of the road is part of the North-South international transport corridor. Hovhannisyan was said to highly appreciated ADB's participation in the project.
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The interlocutors touched upon the current issues of cooperation between Armenia and ADB, focusing on the partnership framework document and possible terms of application’s approval by the ADB Board of Directors.
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Roberts said that the budgetary assistance programme for Armenia, which is currently under discussion with the ADB, will be presented to the ADB Board of Directors in September.nbsp;nbsp;
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The Finance Minister also stressed the importance of the ADB's consistent assistance to Armenia, noting that all the initiatives with the ADB, both in the form of targeted credit and budgetary assistance programs, as well as technical assistance instruments, are aimed at the implementation of the reform agenda of the government.nbsp;nbsp;nbsp;nbsp;
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Since 2005, ADB has provided a total of $1.9 billion in assistance to Armenia, being one of the largest multilateral development partners of the country. These include projects in transport, energy, water, and urban infrastructure, while in the private sector ADB supports utilities and infrastructure, financial institutions, and agribusiness.-0-
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