  RA government, WB sign $40mln agreement for improvement of rural roads  July 23, 2010 - 16:12 AMTPanARMENIAN.Net - On July 23, the Armenian government and World Bank signed a $40mln loan agreement for the second Additional Financing for the Lifeline Road Improvement Project for Armenia. The agreement was signed by Armenian Minister of Finance Tigran Davtyan and Acting Director of WB Yerevan Office Naira Melkumyan, the RA government’s press service reported. The second additional financing will further scale-up activities under the on-going project to improve the condition of 190 km of roads. According to Naira Melkumyan, it is expected that up to 50 km will be rehabilitated by the end of this year. “The program will allow creating 19,000 jobs/1 month in this field,” she said. The IBRD Flexible loan has a maturity of 25 years and a grace period of 10 years included. For his part, Tigran Davtyan noted that the loan is provided under favorable conditions, what will allow implementing the program aimed at equal development of regions.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Related sections Latest news The Power of One Dram to benefit Road of Life charity  The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization.Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia.Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |
