By Asbarez | Wednesday, 04 September 2013
Construction of the North-South Highway began in September of last year
YEREVAN—Armenia will receive $100 million from the Eurasian Economic Community’s “anti-crisis” fund, a Eurasian Development Bank official said Wednesday.
The 556 km (345 mile) corridor, designed to improve transport links between Europe, the Caucasus and Asia, in particular between Eastern Europe and western Asia, is to be completed by 2017.
In January 2010, the Armenian government approved an investment program for the North-South transport corridor, and a framework finance agreement between Armenia and the Asian Development Bank worth a total of $500 million.
Wednesday’s decision came after discussions between the Eurasian Development Bank’s Deputy President Sergei Shatalov and Armenia’s Transport and Communications Minister Gagik Beglaryan, the ministry’s press service told RIA Novosti.
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