YEREVAN. – Armenian Transport and Communication Minister Gagik Beglaryan on Monday received Sergey Ignatov, the newly appointed director of the Eurasian Development Bank’s (EDB) representative office in Armenia’s capital city Yerevan.

They discussed EDB’s inclusion in Armenia’s North-South Road Corridor Investment Program, the Transport and Communication Ministry press service informs.  

Ignatov informed that the EDB Board of Experts approved the Armenian government’s petition for an allocation of up to $100 million, from the EDB Anti-Crisis Fund, toward the planning, construction and technical supervision of any southern portion of the North-South Road Corridor.

Speaking about the current course in the construction of the road, Beglaryan noted that feasibility studies will end by the year’s end—and in assistance by the Asian Development Bank—and, subsequently, it will be possible to pass to the next phases of this project.

Underscoring the construction of the North-South Road Corridor, the Armenian minister stressed that efforts should be combined to include the Eurasian Development Bank in this project as soon as possible.