YEREVAN, December 26. /ARKA/. The Yerevan Municipality said today it was negotiating two loans, one from the European Investment Bank (EIB) and the second from the Asian Development Bank (ADB).
The loans are to be spent on the renovation and construction of kindergartens, clinics and roads in the capital city in 2023. The Municipality said nothing about the amounts of the loans and repayment terms.
More specifically, the loan from the European Investment Bank is to be spent on energy efficiency projects, under which 32 kindergartens and six clinics will be renovated and built. The loan agreement is expected to be signed in March.
Also, the possibility of signing a new loan agreement with the Asian Development Bank to finance the construction of the Isakov – Arshakunyats Avenue section is being discussed. The agreement is expecdted to be signed in March. –0–
