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Saturday, August 19, 2017

Armenia to build road with loan from Asian Development Bank

Armenia's National Assembly ratified an agreement on Tuesday with the Asian Development Bank (ADB) for a $100 million dollar loan agreement.

The loan will be used to finance the construction of the Talin-Lanjik road, including consulting, pre-construction work and a feasibility study of a 304 kilometer road section from Artashat to Kajaran, Arka reports.

The Talin-Lanjik road will be part of the North-South transport corridor project.

Artur Arakelyna, the deputy minister of transport and communications, said that the government would announce a tender to choose a company to construct the road following the ratification of the agreement.

The road is set to span 18.7 kilometers and will take two years to build. Its endpoints will be in the Armenian town of Meghri in the south and Bavra in the North, according to Arka.

Armenia's main corridor road will be upgraded through the project, which will boost trade and growth in the Caucasus and Central Asia sub-regions through improved connectivity. Additionally, with the new route, Armenia will be able to mitigate an Azerbaijani and Turkish blockade.