YEREVAN, October 10. /ARKA/. The Armenian government approved Thursday the signing of the grant agreement between Armenia, the Gyumri municipality, and the European Bank for Reconstruction and Development for reconstruction and repair of roads in Gyumri.
Suren Papikyan, Armenian ministry of territorial administration, under the Armenia-EBRD loan agreement signed on May 11, 2016, the bank will provide a €4.65 million grant to Armenia in two tranches (€2.65 million and €2 million) as co-financing of the program.
He said that the aim of the program is to support the government in reconstruction and modernization of the lightening of the city’s streets.
In his words, the grant financial resources will be spent on repairing road surface, modernization of draining systems, construction of new zones for pedestrians and reconstruction of city lightening systems.
It is also planned to enhance safety of roads as well as to deploy LEDs and street lightening equipment. -0—-
