Asian Development Bank to fund municipal transport infrastructure development program

PanARMENIAN.Net - A trilateral memorandum between Asian Development Bank representative, Mayor of Yerevan and RA Economy Minister was signed today in Yerevan Mayor's Office, municipality press service reports.



Under the agreement signed, Yerevan will start implementation of a program aimed at developing municipal transport infrastructure.



Asian Development Bank will allocate credits for project implementation. Priority elements within program frameworks include enhancing Yerevan's public transportation network and ensuring road security. Besides, at each stage of the program, directors' board will provide financial and technical assistance.



The Mayor's office will do its best to achieve project implementation within shortest time-limits, Mayor Gagik Beglaryan said.



In his turn, Arno Dofin, Head of group in Asian Development Bank, attached importance to cooperation with Yerevan Municipality, noting that joint work would help bring the program to life.



According to the release, the program covers such priority trends as constructing road junctions between Artashat and Ashtarak highways, building a new entrance for Yeritasardakan (youth) underground station from Sayat Nova Avenue and studying strategies for further development of underground network.