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-