Sargsyan Hosts EDB Chairman: Bank OK's US$150 Million North-South Road Credit

14:32, April 15, 2015

Armenian President Serzh Sargsyan today hosted Eurasian Development Bank Board Chairman Dmitry Pankin.

The two discussed preliminary results of EDB's five years of work in Armenia and key areas for its future operations in the country.

Pankin is heading an EDB delegation to Armenia at the invitation of Armenia's Prime Minister Hovik Abrahamyan.

Yesterday, EDB and the Armenian government signed an agreement on the provision of an investment credit from the ACF to finance the construction of the North-South road corridor (Phase 4). The credit totals US $150 million and will be provided for twenty years.

Chairman Pankin said that he appreciated EDB and Armenia's cooperation in preparing this first large joint infrastructure project. "Financing investment projects in the area of infrastructure is a priority for EDB and the EurAsEC ACF," said Dmitry Pankin.  Read more... (219 words)

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