YEREVAN, April 25. /ARKA/. Armenian National Assembly's standing committee on financial-credit and budgetary affairs on Tuesday approved the ratification of a loan agreement with the Eurasian Development Bank (EDB) for the North-South highway project.

The loam agreement for the North-South project (Phase 4) was signed between the Republic of Armenia and the EDB on April 14, 2015.

"The loan will be used for the construction of a 32-kilometer road section of the North-South Road Corridor," said Deputy Minister of Territorial Administration and Infrastructure Kristine Galechyan.

The total cost of the project is $236.681mln, of which $150mln is loaned by EDB and the rest $86.681mln will be allocated by Armenian government. --0—