  EIB to allocate euro 30,316 mln. for Armenia’s checkpoint moderation August 7, 2012 - 16:36 AMT PanARMENIAN.Net - Armenian Finance Minister Vache Gabrielyan and European Investment Bank (EIB) director of planning and settlement of operations Heinz Olbers signed a loan agreement envisaging allocation of euro 30,316 million for modernization of Bagratashen, Bavra and Gogavan check points. “The infrastructure modernization will facilitate legal border crossing,” Minister Gabrielyan said, adding that European Bank for Reconstruction and Development (EBRD) will allocate euro 10,294 mln. with Neighborhood Investment Fund to allot euro 12 mln., the EU and UNDP to provide euro 3,318 mln. and 0,8 mln. respectively. As Minister Gabrielyan further noted, European Investment Bank has named 4-25 years of maturity, 2 months - 7 year as repayment grace period, with each tranche to have separate floating interest rate. Partner news  Top stories Tigran Sargsyan noted that the new plant will be constructed after the current one is finally out of operation. IFC invested $244 million in 40 projects across a range of sectors, including financial markets, manufacturing, and mining. Armenian Prime Minister addressed a letter to Public Services Regulatory Commission over the reconsideration of gas prices. Armenia’s Public Services Regulatory Commission plans to reconsider electricity generation and distribution prices.   Partner news |  Latest news Russian expert rules out Karabakh war renewal by Armenia  Alexander Krylov: the possibility of the renewal of Karabakh war should not be exaggerated in the face of the balance of power.German scientists ready to include Armenian petroglyphs in UNESCO list The scientists conducted a survey of ancient rock art, with a database of Armenian petroglyphs to be later developed.OSCE Minsk Group Co-Chairs won’t visit Artsakh French Co-Chair of the OSCE Minsk Group Jacques Faure said the co-chairs are not planning a visit to Nagorno Karabakh.Penguin reaches $75mln agreement in iBooks price fixing lawsuit In a press release, Penguin's parent company, Pearson, noted it had made a $40 million provision for settlement in its 2012 accounts. |
