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Thursday, August 24, 2017

Feasibility study for north-south road corridor in Armenia due in April

A feasibility study for the construction of a north-south road corridor in Armenia will be completed at the end of April, an Armenian delegation announced during a recent meeting with the Eurasian Development Bank.

The EDB is overseeing the $100 million project in its capacity of the resources manager of the EurAsEC Anti-Crisis Fund and in cooperation with Asian Development Bank.

If the project is approved by the ACF council, financing can start later this year. A decision on the project is expected in June.

In June 2013, the ACF council approved the concept note for the investment project and EDB's evaluation report on the preliminary application for financing, which enabled the launch of the project feasibility study.

The discussion also covered certain issues related to the length and technical features of road segments, the rehabilitation or construction of which would be financed using ACF resources.

The Eurasian Development Bank is an international financial institution founded by Kazakhstan and Russia in January 2006 with the mission to facilitate the development of sustainable economic growth, market economies and the expansion of mutual trade and other economic ties in its member states. The EDB's member states are the the Republic of Belarus, Republic of Armenia, Kyrgyz Republic, Republic of Kazakhstan, Russian Federation and the Republic of Tajikistan.

EDB's charter capital exceeds $1.5 billion.