YEREVAN, May 20. /ARKA/. Yerevan Mayor Karen Karapetyan and Matthew Westfall, Head of Asian Development Bank (ADB) Central and Western Department’s Urban Services Division, signed a credit agreement on Thursday, the Yerevan municipality’s press office reports.
Under this agreement, the ADB will lend $60 million for construction of bypass roads in Yerevan.
Some 5.6 kilometers of roads, three overpasses will be built within three years. A 140-kilometer bridge will be thrown across Hrazdan River as well.
The construction of bypasses will relieve the central part of the city from traffic flows and will set a direct link with southern areas.
Asian Development Bank was established in 1966. Its members are 67 countries. Armenia joined the ADB on September 20, 2005.
The Armenian government has signed a number of agreements and one memorandum with the bank. The total cost of the projects being implemented in Armenia is $83 million. ($1= AMD 374.62). -0-
Department’s Urban Services Division, signed a credit agreement on Thursday, the Yerevan municipality’s press office reports.
Under this agreement, the ADB will lend $60 million for construction of bypass roads in Yerevan.
Some 5.6 kilometers of roads, three overpasses will be built within three years. A 140-kilometer bridge will be thrown across Hrazdan River as well.
The construction of bypasses will relieve the central part of the city from traffic flows and will set a direct link with southern areas.
Asian Development Bank was established in 1966. Its members are 67 countries.
Armenia joined the ADB on September 20, 2005.
The Armenian government has signed a number of agreements and one memorandum with the bank.
The total cost of the projects being implemented in Armenia is $83 million. ($1= AMD 374.62). -0-
