YEREVAN. – Yerevan city hall, Armenian Ministry of Finance, and Yerevan subway have concluded a contract with the European Bank for Reconstruction and Development (EBRD). The EBRD will grant €5 million to secure the subway's reconstruction.

Besides the EBRD, the project will be co-invested by the European Investment Bank €5 million and by the EU with the same amount as an investment grant. 

“The underground of the capital city is one of the main means of communication and it is in the focus of the city hall. We pay huge importance to the project realization as we settle our citizens’ security,” Yerevan Mayor Taron Margaryan said.

At the same time the EBRD head Valeriu Razlog paying importance to the cooperation with the city hall expressed readiness to continue realizing projects between the bank and the city hall on civil economy fields.