YEREVAN, December 18. /ARKA/. Investments by the Asian Development Bank (ADB) in various sectors in Armenia reached $750 million over the last 6-7 years, ADB regional director for Central and West Asia Klaus Gerhaeusser said at his meeting with Armenia’s premier Tigran Sargsyan.

Gerhaeusser said he is happy with the level of cooperation with Armenia, the government press office reported.

The premier, in his turn, said Armenia’s government is ready to continue the cooperation.
“We are happy our relationship with the Asian Development Bank is deepening year by year, and the fields of cooperation are expanding”, the premier said.

The ADB is currently discussing a partnership strategy with Armenia’s government for the next five years for projects in urban development, water supply and energy security, the meeting participants said.

Gerhaeusser noted the ADB is ready to provide technical assistance along with funding.

The parties talked also about construction of North-South road corridor, possible cooperation in rural sector and other issues.

The Armenian government approved the North-South road corridor program as well as a $500-million financial agreement with Asian Development Bank on January 14, 2010. The goal of the project is to upgrade Armenia’s main corridor road as part of a broader thrust to improve connectivity, and boost trade, growth and livelihood opportunities in the Caucasus and Central Asia sub-regions.

The construction of the corridor is expected to be completed in 2017. The road will extend 556 kilometers to the Black Sea and Europe via Armenia (Meghri-Kapan-Goris-Yerevan-Ashtarak-Giumry-Bavra) and Georgia. –0--