WB TO PROVIDE 35-40 MILLION USD LOAN FOR ROAD CONSTRUCTION IN ARMENIA

http://www.armenpress.am/news/more/id/595 812/lang/en
2010-03-24

YEREVAN, MARCH 24, ARMENPRESS: Armenian Transport and Communication
Minister Manuk Vardanyan received today director of the Armenian
Office of the World Bank Aristomene Varudakis, responsible for the
transport programs in the South Caucasus Olivier l'Berry and other
representatives of the bank.

Transport and Communication Ministry press secretary Susanna Tonoyan
told Armenpress that welcoming the guests the minister noted that the
"Renovation of Roads of Vital Importance" program implemented by the
World Bank has a crucial importance for the development of our country
and increase of the living level of the population. M. Vardanyan
highlighted also the the programs implemented collaboratively by
the World Bank and Asian Development Bank. The minister said the
implemented programs must fulfill each other to make the carried out
work more effective.

A. Varudakis presented in details the process of implementation of
the road construction programs by the WB. It was particularly noted
that last year the "Renovation of Roads of Vital Importance" program
launched and will be finished this year. Initially its financing
amounted to 25 million USD and then got an additional financing of
36,6 million USD. A. Varudakis informed that with that program overall
240 km-long road sectors are expected to be renovated in a number of
communities. With the assessment of the WB representative the program
is quite effective as it ties the road of the rural community with
the nearby main highways as well as ensures additional jobs for the
residents of the communities.

The WB representative referred to the implementation of new road
construction programs by the bank. It was noted that the WB intends
to provide about 35-40 million USD loan by the end of the year for
the construction and reconstruction of totally 171 km road sectors
suspended by the "Millennium Challenges Corporation" as well as the
sector of an inter-state road's crossroad taking to Halidzor village.

The works on reconstruction of the latter are expected to be finished
by the end of October 2010.

At the end of the meeting A. Varudakis invited M. Vardanyan to
Tbilisi where May 12 a conference of the heads of international donor
organizations dedicated to the transport sphere will be conducted
organized by the World Bank. Delegations of transport ministers of
Armenia, Georgia and Azerbaijan will take part.