Fri, 25 July
30.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Armenian parliament ratifies loan agreement signed with EBRD to continue re-equipment and reconstruction of Yerevan Metro

YEREVAN, December 3. / ARKA /. The National Assembly of Armenia ratified today an  agreement signed earlier with the European Bank for Reconstruction and Development (EBRD) that will provide a 5 million euro loan to continue the re-equipment and reconstruction of the Yerevan Metro.

The agreement was signed between the EBRD, Yerevan Municipality, Armenia’s Finance Ministry and “Yerevan Metro after Karen Demirchyan” CJSC on August 3. Another 5 million euro will be allocated by the European Investment Bank. Armenia will also receive a grant form the EU in the same amount.

This agreement starts the second phase of the metro reconstruction project. The main focus of the program is to modernize drainage and energy saving systems as well as the rolling stock. The first phase of the program, implemented in 2010, was designed to enhance the safety and energy efficiency of the metro. It was financed by EBRD, EIB and EU.

Yerevan Metro after Karen Demirchyan was built in 1981. Currentl, it has ten stations. The total distance of metro is 13.4 km. -0-

spot_img

POPULAR

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

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.

Viva Armenia CJSC bonds listed on Armenia Stock Exchange

The Armenia Stock Exchange (AMX) is pleased to welcome another major company to the capital market. Viva Armenia CJSC’s USD-denominated bonds will be listed on the Armenia Stock Exchange starting from 15 July.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

Armenia and EIB sign financial agreement for Resilient Syunik Program worth €50 million

A financial agreement for the Armenia-Sustainable Syunik Program has been signed in Luxembourg by Armenian Minister of Finance Vahe Hovhannisyan and Vice President of the European Investment Bank (EIB) Teresa Czerwińska.

LATEST NEWS

spot_imgspot_imgspot_img