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.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme