Asian Development Bank planning to make investments in some segments of Armenia’s economy

19.05.2016 14:42
Asian Development Bank planning to make investments in some segments of Armenia’s economy

YEREVAN, May 19. /ARKA/. The Asian Development Bank is planning to invest a great deal in some segments of Armenia’s economy, Asian Development Bank Project Manager Cesar Lawrence said Wednesday at an Armenian-American Business Forum.
The bank started dealing with Armenia more than one decade ago, he said, and it has implemented since then a great number of projects of $1.04 billion total cost.

Lawrence said that the Asian Development Bank has implemented quite successful projects in different areas, including railway transport, water supply and sewerage.

Speaking about the current projects, he pointed out North-South transport corridor.

About AMD 500 million has been allocated for this project, he said, and additional investments are expected to come from the European Investment Bank and the European bank for Reconstruction and Development.

In his words, some money implied by the urban planning program has been provided to Yerevan, and the remaining financial resources will be sent to other cities. IN particular, the third tranche is intended for Armenia's cities of Gyumri, Vanadzor, Dilijan and Jermuk.

The Asian Development Bank intends to invest money in water economy, energy and seismic security and will seal a new agreement soon as part of the process of choosing a single operator.

Lawrence also said that the bank intended to support Armenia in improvement of its internal and external transportation links. --0----


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