WB to fund road construction in Armenia

PanARMENIAN.Net - .World Fund intends to provide USD 36 million credit to RA Government for road construction on the territory of Armenia, RA Transportation Minister Guren Sargsyan said on Thursday.

Future funding will depend on the success of Rural Roads Construction Project 2009, USD 25 million funding recipient.

International Development Association credits are provided for 20 years, with 0,75% interest rate to be paid within the first 10 years.
 Top stories
Vahan Kerobyan said Armenia will most probably introduce a ban on the sale of Turkish products as well.
According to Vahan Kerobyan, a sharp decline in the travel industry was recorded last year, but now the situation has changed
Mher Grigoryan added that the government will ensure that the borrowed funds are spent efficiently.
Wizz Air Abu Dhabi will be regularly flying from the Armenian capital of Yerevan to Abu Dhabi, UAE.
Partner news