YEREVAN. - The Armenian National Assembly (NA) has launched the discussion on the European Bank for Reconstruction and Development (EBRD) loan for the repair of streets in Gyumri, the second largest city of Armenia.

The loans and grants will be earmarked for the repair of 16 km streets and pavements, as well as installment of power-saving LED street lamps.  

The 14,6 million euro loan will be provided for 15 years, with a grace period of three years and at the rate of 6-month Euribor +1 percent.

Besides the loan, 7,3 million euro investment grant and another 19,4 million euro grant for technical support will be allocated for the program.

Small part of these means (160,000 euro) will be earmarked for the consultations on the organization of street parking lots.