Management announced today, on November 9, an agreement between Armenia and the Asian Development Bank on the “Yerevan Urban Development Investment Program” loan agreement, worth approximately 60 million euros.

The purpose of the program is to enhance urban infrastructure by constructing the Isakov-Arshakunyats new bypass road. This road will connect three administrative districts of Yerevan, providing relief to the city’s traffic congestion. As a result of the program, the existing road will be reduced by approximately 1.8 km and urban congestion will be alleviated. Additionally, a new bridge will be built on the Hrazdan River, contributing to the creation of new urban infrastructure.

It is important to note that this loan agreement will bring additional financial obligations for the Armenian state budget.

Source: NEWS.am