The government of Armenia announced today that an agreement has been reached between the Central Bank of Armenia and the Asian Development Bank on the “Yerevan Urban Development Program” loan. The loan amount specified in the agreement is 60,090,000 euros. It is expected that the program covered by the agreement will be completed by September 30, 2027.

According to the Loan Closing Date stipulated in the agreement, the deadline is March 31, 2028, or any other date that the borrower and ADB may agree upon.

As part of the agreement, the Isakov-Arshakunyats highway will be reconstructed. This highway connects several administrative districts of Yerevan and aims to improve transportation and reduce traffic congestion. The Isakov-Arshakunyats highway is located on Monte Melkonyan Street, a major thoroughfare.

The planned works include the construction of necessary bridges on the Isakov highway to provide access to the Noragavit district. Additionally, a 269-meter long pedestrian bridge will be built across the Hrazdan River.

In the Arshakunyats area, a transport interchange and a roundabout with a tunnel and a spiral-shaped pedestrian walkway will be constructed.

The main road has a length of 1.9 km, including sections with interchanges and secondary roads, totaling 6.6 km. The road consists of 6 lanes (3×3) with a road section width of 24.5 meters.

News from Armenia – NEWS.am