Mon, 29 September
27.1 C
Yerevan
USD: 382.75 RUB: 4.63 EUR: 448.54 GEL: 141.34 GBP: 513.96

Minister: Armenia expects $60 million from Asian Development Bank for recovering rural roads

YEREVAN, November 11. /ARKA/. Armenia expects $60 million from Asian Development Bank for recovering rural roads, Transport and Communication Minister Gurgen Sargsyan said on Wednesday.

The matter, he said, is under negotiation now, and construction is planned to be launched in April or May 2010.

“A tender for design will be announced soon and another tender, for construction, is planned to be completed by spring,” Sargsyan said.

The minister said that the Asian Development Bank is though to start transferring money in early 2010.

In the 2010 state budget, Armenian government is planning to recover about 120 kilometers of rural roads from the Asian Development Bank’s loans.

The Asian Development Bank was established in 1966.

The bank has 67 members.Armenia joined the bank on September 20, 2005.
Armenia has signed a number of agreements and the mutual understanding memorandum with the Asian Development Bank.

The bank’s rural road and water supply projects in Armenia are estimated to cost $83 million. Armenia has received $381 million from the bank. -0–

spot_img

POPULAR

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img