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BAKU: WB, Asian Bank To Finance Iran-Armenia Railway Project

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  • BAKU: WB, Asian Bank To Finance Iran-Armenia Railway Project

    WB, ASIAN BANK TO FINANCE IRAN-ARMENIA RAILWAY PROJECT

    Trend
    March 18 2009
    Azerbaijan

    Implementing a railway project between Iran and Armenia is too
    important for Yerevan, Armenian Prime Minister Tigran Sarkisyan said.

    The project costs $2 billion, he said. The World Bank and Asian
    Development Bank stated their readiness to finance this project,
    the Iranian IRNA news agency reported.

    Constructing Iran-Armenia railway will enable to transport cargos
    to Armenia, Sarkisyan said. The railway will be constructed via 13
    border zones, he added.

    Sarkisyan said Armenia has held discussions with the Asian Development
    Bank which is ready to finance the project.
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