Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Thursday, July 27, 2017

EDB inspects locations for North-South transportation corridor

Experts from the Eurasian Development Bank visited the proposed locations last week for the North-South road transportation corridor in Armenia.

The EDP representatives joined technical consultants from Egis, France, and representatives of the North-South project group. The experts evaluated and analyzed the proposed locations. The information will be used by the Eurasian Economic Community's Anti-Crisis Fund to decide whether or not to finance the project.

EDB is preparing the project as the ACF resource manager in cooperation with the Asian Development Bank.

The ACF council will evaluate the blueprint for the $100 million project in June. If funding is approved, construction would begin for the North-South road transport corridor.

The international North-South corridor would provide a road between Europe and India. It would travel through Iran and the Caucasus and cross Armenia from the Iranian border in the south to the Georgian border in the north.

The route would halve the distance of the popular sea route through the Suez Canal.