YEREVAN. - Mayor of Yerevan city Karen Karapetyan and regional director of Asian Development Bank Matthew Westfall signed an agreement on Thursday within the framework of financing facility for a Sustainable Urban Development Investment Program.

The first tranche of about $60 million is earmarked for the construction of road bypassing Yerevan, city hall press service informed Armenian News-NEWS.am.

The agreement provided for construction of 5.6 km of roads, 3 overpasses, a 140 meter long bridge over Hrazdan River and other facilities in the next three years.

Construction of bypassing road will divert traffic from the center providing direct connection with southern highways.