YEREVAN, February 15. /ARKA/. The Armenian government has amended today the loan agreement with the European Bank for Reconstruction and Development. The loan was attracted to develop road infrastructure in the second-largest city of Gyumri.
For the implementation of the project 14.6 million euro loan was attracted from the EBRD, and another 5.3 million euros were received as a grant. The funds were disbursed in three tranches.
As a result of the change, a new tranche of EUR 2.72 million will be provided to co-finance improvement in the Ani and Austrian quarters of Gyumri.
The EBRD is one of the leading institutional investors in Armenia. Since its inception, it has invested around EUR 2 billion in 206 projects, supporting private sector development as well as energy, infrastructure, telecommunications and the financial sectors. -0-
