I do not fully understand all the details of the North-South project, but I know that this is a very important infrastructure project, and for example, South Korea is also participating in the creation of similar links in the region.” The Asian Development Bank (ADB) deputy director general for Central and West Asia, Yong Ye, stated this during a press conference held within the framework of the 59th Annual Meeting of the ADB, answering Armenian News-NEWS.am’s question about how the ADB, which is one of the main donors of the North-South highway project, assesses the progress of this project in Armenia, and what role it can play in regional integration processes.

This project holds an important place in Armenia’s transport strategy. It is financed by a number of international partners and, in essence, is a transport corridor that connects various cities and settlements of the country, contributing to the free movement of people and goods. At the same time, it can create new opportunities for the provinces that have been relatively less developed so far. As it is observed, part of the population is moving to large cities, and such projects can help balance development by creating economic activity in the provinces as well, added Yong Ye.

Asked what role the North-South Road could play in terms of regional integration, the ADB official replied that since the project is not yet fully completed, its real impact will be visible over the course of time, but it is expected that the amount of freight and passenger traffic will increase. At the same time, recent geopolitical developments are also opening up new opportunities for east-west connections. All these factors together can form a broader economic integration, and it is possible that the economic impact will increase significantly in about 5-7 years, noted Yong Ye.

The 59th Annual Meeting of the Asian Development Bank is being held in Samarkand, Uzbekistan, from May 3-6, bringing together financial sector representatives, policymakers, independent experts, and journalists from 69 ADB member countries.