15mln euro to be allocated for second stage of Yerevan metro modernization in 2011

15mln euro to be allocated for second stage of Yerevan metro modernization in 2011
November 30, 2010 - 17:13 AMT

PanARMENIAN.Net - Head of the EBRD office in Yerevan Valeriu Razlog said that additional 15mln euro will be allocated for implementation of the second stage of the program on Yerevan metro modernization in 2011.

“We have received a bid for the second stage of the program on Yerevan metro modernization for improvement of the drainage system and metro infrastructure. It is at the stage of discussion. Possibly, we will sign an agreement in the first half of 2010,” Razlog told journalists on November 30.

According to Razlog, it refers to additional 15mln Euros, out of which 5mln will be provided by EBRD, 5mln – European Investment Bank, 5mln – by the EU Neighborhood Investment Facility.

The aforementioned structures have already signed a 15mln Euro agreement on the first stage of the program on Yerevan metro modernization. The first stage is envisaged to be completed by the end of 2012.

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