Minister: Armenia expects $60 million from Asian Development Bank for recovering rural roads

12.11.2009 12:19
Minister: Armenia expects $60 million from Asian Development Bank for recovering rural roads

YEREVAN, November 11. /ARKA/. Armenia expects $60 million from Asian Development Bank for recovering rural roads, Transport and Communication Minister Gurgen Sargsyan said on Wednesday.

The matter, he said, is under negotiation now, and construction is planned to be launched in April or May 2010.

“A tender for design will be announced soon and another tender, for construction, is planned to be completed by spring,” Sargsyan said.

The minister said that the Asian Development Bank is though to start transferring money in early 2010.

In the 2010 state budget, Armenian government is planning to recover about 120 kilometers of rural roads from the Asian Development Bank’s loans.

The Asian Development Bank was established in 1966.

The bank has 67 members.Armenia joined the bank on September 20, 2005.
Armenia has signed a number of agreements and the mutual understanding memorandum with the Asian Development Bank.

The bank’s rural road and water supply projects in Armenia are estimated to cost $83 million. Armenia has received $381 million from the bank. -0--


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