YEREVAN.- The World Bank Board of Executive Directors on Thursday approved a $45 million loan for road project in Armenia, Country Manager for Armenia Jean-Michel Happi told reporters on Friday.

Lifeline Road Network Improvement Project (LRNIP) will assist the Armenian government in its on-going efforts to further improve accessibility through the rehabilitation of 170 km of the lifeline road network in 31 communities of Aragatsotn, Armavir, Gegharkunik, Kotayk, Lori and Syunik Regions.

It will also help Armenia to strengthen the capacity of Transport and Communication Ministry to manage the lifeline road network.

The loan has a maturity of 25 years including a grace period of 10 years.