YEREVAN, 9 January. /ARKA/. The European Investment Bank (EIB) will allocate 236 million euro loan for the construction of Sisian-Kajaran road section in Armenia's Syunik region.  

The government in Yerevan approved on Thursday a draft law on ratification of the financial agreement between Armenia and the EIB on construction of Sisian-Kajaran road section.

The loan funds will be used to finance part of the overall programme for the construction of a new 60 km long single-lane road junction between the towns of Sisian and Kajaran in Armenia's Syunik marz.

Within the framework of the programme, a three-lane asphalt road with a width of 11.1 m, 27 bridges with a total length of 4.7 km, and 9 tunnels with a total length of 12.5 km will be constructed. The programme is scheduled to be completed by December 2033.  

The road, which is part of the North-South Interstate Highway, will shorten the journey by 54 kilometres and increase the average speed from 50 km/h to 100 km/h.

As a result, the travelling time will be reduced by one and a half hours. The construction of this section will also help to increase trade turnover, reduce transport costs, attract transit traffic and develop tourism. -0-