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Ebrd, Eu Ready To Expand Cooperation With Yerevan Municipality Under

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  • Ebrd, Eu Ready To Expand Cooperation With Yerevan Municipality Under

    EBRD, EU READY TO EXPAND COOPERATION WITH YEREVAN MUNICIPALITY UNDER METRO MODERNIZATION PROJECT

    YEREVAN, January 31. /ARKA/. The head of EU delegation to Armenia
    Traian Hristea and the head of EBRD Yerevan office Valeriu Razlog
    expressed satisfaction with the outcome of their cooperation with the
    Yerevan municipality under the Yerevan metro modernization project,
    the press service of the municipality reported.

    During the meeting with the mayor of Yerevan Taron Margaryan resident
    representative of Asian Development Bank (ADB) mission David Dole as
    well expressed his willingness to cooperate under this project.

    Margaryan highly appreciated the results of the joint project, thanked
    his conversation partners for the support and suggested discussing the
    possibility of increasing metro branch lines under the future project

    In 2012, the European Bank for reconstruction and development
    (EBRD) extended a loan worth 5 mln euros to Armenia for continuing
    re-equipping and reconstructing the Yerevan Metro. Another 5 million
    euros will be given by the European Investment Bank in a loan, whereas
    the EU Neighborhood Investment Instrument will provide equal amount
    in a grant.

    In 2010, the EBRD, the EIB and the EU provided a total of 15mln
    euros for the first stage of the project to increase reliability,
    energy efficiency and safety of the Yerevan Metro. The savings made
    after the completion of the first stage were used to fully modernize
    and repair 8 cars.

    The Yerevan Metro after Karen Demirchyan was founded in 1981. Today
    the Metro has ten stations. The total length of the lines is 13.4
    kilometers. -0-

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