YEREVAN. – The European Investment Bank (EIB) is prepared to finance projects toward renovating Armenia’s infrastructure, including the country’s roads. This was noted during the meeting, on Monday in Armenian capital Yerevan, between Manuk Vardanyan, Armenia’s Minister of Transport and Communication, and Philippe Szymczak, EIB Head of Transport, Telecom & Corporate Division for Eastern Europe.

During the meeting, the interlocutors discussed the matter of EIB’s co-financing of several road construction projects, Transport and Communication Ministry’s Press Secretary Susanna Tonoyan informed Armenian News-NEWS.am.

Szymczak informed that EIB, together with the Asian Development Bank, is examining the co-financing of the renovation of Talin-Gyumri road section, which is Tranche 3 of the North-South Highway.    

Minister Vardanyan noted that the French Egis International organization already prepared Tranche 3’s plan and the Ministry will soon submit it to EIB. Along with co-financing Trance 3, the Minister also proposed EIB delegation to carry out the entire construction project of the North-South Highway.           

The parties also discussed the possibilities for renovating two highways leading to Georgia and co-financing the World-Bank-funded “Renovation of Vital Roads” Project. EIB representative expressed readiness to discuss these matters and to co-finance the highway renovation project. 

At the end of the meeting, an arrangement was reached for the Ministry of Transport and Communication to petition to EIB, in order to commence talks toward financing the aforesaid projects.