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The Financial, Georgia
Aug 4 2012
Safe and dry metro for Yerevan
04/08/2012 00:54
The FINNACIAL -- When you are a passenger on a metro train, what you
want to see is a speedy, reliable service.
What you do not want to see is water dripping from the tunnel walls,
which is currently the case for the Yerevan metro.
The European Bank for Reconstruction and Development has teamed up
with the European Investment Bank (EIB) and the EU's Neighbourhood
Investment Facility (NIF) to help the Yerevan metro with this
significant rehabilitation and upgrade project.
The EBRD is providing a sovereign loan of 5 million to be co-financed
by an EIB 5 million loan tranche and an investment grant from the NIF
of the same amount.
According to The European Bank for Reconstruction and Development,
this project is Phase II of the Yerevan metro rehabilitation project.
Phase I has also been financed by the EBRD, EIB and NIF, with a total
of 15 million committed in 2010 to improve safety, sustainability and
energy efficiency of the metro.
The metro is one of the main means of transport in the capital, with
services at peak times every five minutes. In 2011, over 17 million
passengers used it. Yerevan, with over a million inhabitants, needs to
keep its metro in good working order. The metro system upgrade will
put a special emphasis on dealing with the water ingress problem in
the metro tunnel as well as improving passenger safety.
`Together, we are upgrading the most affordable, environmentally
friendly and energy efficient means of public transport in Armenia -
the metro in Yerevan', says Valeriu Razlog, head of EBRD Office in the
country.
The project has also received technical support from the Government of
Austria to support procurement (600,000) and the EBRD's Shareholder
Special Fund to identify solutions to the water ingress problem
(950,000), for ticketing reform (460,000) and to implement a public
service contract (135,000).
Kurt Bayer, EBRD director for Austria, says: `Yerevan's metro system
can be made more effective in relieving traffic congestion in this
crowded city. Austrian trust funds are directed to projects which
improve the life of citizens and the environment, and the Yerevan
metro project will do both'.
http://finchannel.com/news_flash/Banks/113804_Safe_and_dry_metro_for_Yerevan/
Aug 4 2012
Safe and dry metro for Yerevan
04/08/2012 00:54
The FINNACIAL -- When you are a passenger on a metro train, what you
want to see is a speedy, reliable service.
What you do not want to see is water dripping from the tunnel walls,
which is currently the case for the Yerevan metro.
The European Bank for Reconstruction and Development has teamed up
with the European Investment Bank (EIB) and the EU's Neighbourhood
Investment Facility (NIF) to help the Yerevan metro with this
significant rehabilitation and upgrade project.
The EBRD is providing a sovereign loan of 5 million to be co-financed
by an EIB 5 million loan tranche and an investment grant from the NIF
of the same amount.
According to The European Bank for Reconstruction and Development,
this project is Phase II of the Yerevan metro rehabilitation project.
Phase I has also been financed by the EBRD, EIB and NIF, with a total
of 15 million committed in 2010 to improve safety, sustainability and
energy efficiency of the metro.
The metro is one of the main means of transport in the capital, with
services at peak times every five minutes. In 2011, over 17 million
passengers used it. Yerevan, with over a million inhabitants, needs to
keep its metro in good working order. The metro system upgrade will
put a special emphasis on dealing with the water ingress problem in
the metro tunnel as well as improving passenger safety.
`Together, we are upgrading the most affordable, environmentally
friendly and energy efficient means of public transport in Armenia -
the metro in Yerevan', says Valeriu Razlog, head of EBRD Office in the
country.
The project has also received technical support from the Government of
Austria to support procurement (600,000) and the EBRD's Shareholder
Special Fund to identify solutions to the water ingress problem
(950,000), for ticketing reform (460,000) and to implement a public
service contract (135,000).
Kurt Bayer, EBRD director for Austria, says: `Yerevan's metro system
can be made more effective in relieving traffic congestion in this
crowded city. Austrian trust funds are directed to projects which
improve the life of citizens and the environment, and the Yerevan
metro project will do both'.
http://finchannel.com/news_flash/Banks/113804_Safe_and_dry_metro_for_Yerevan/