The WB Board of Directors approved additional funding, U.S. $40, of rural road construction in Armenia, Ani Balabanyan, WB analyst for energy and infrastructure, told a press conference. “The additional funding is intended for renovation of rural lifelines in Armenia,” she said. A total of 190 km of rural roads are to be repaired in nine Armenian regions.

The WB approved the rural road construction program for Armenia last February. The U.S. $101m project provides for the renovation of 430 km of roads. To date, 153 km of rural roads have been renovated, and 12,000 jobs created. The roads connecting rural areas with national roads are a priority.

The 25-year credit has a 10-year grace period.