EBRD to grant funds for Yerevan underground modernisation

Yerevan Municipality, Armenia’s Finance Ministry and Karen Demirchyan Yerevan Metro Company signed a loan agreement with the European Bank for Reconstruction and Development (EBRD) on allocation of EUR 5 Million for reconstruction and upgrading of Yerevan underground.

The program will be co-financed by the European Investment Bank (EIN), European Union investment grant each providing EUR 5 Million.

EBRD, EIB and the EU financed the first round of the program too providing EUR 15 Million.
The second round of the program will mitigate water ingress in the metro tunnel.

Source:  www.tert.am

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