YEREVAN. – At Thursday’s Cabinet session, the government of Armenia approved the proposal to sign Tranche B and Tranche C of the Gyumri urban road modernization grant agreement between the Armenian government, Gyumri Municipality, and the European Bank for Reconstruction and Development (EBRD)—and a totaling €4.65 million.

The objective of this program is to assist in the major road repair and modernization of public lighting in Gyumri.

Prime Minister Nikol Pashinyan noted that the hotel business in Gyumri also needs expansion, and added that there already are respective investment programs.

“It’s very important that the government respond quickly to these matters so that the work of building new hotels can move forward quickly so that we don’t ‘break’ the pace that Gyumri has taken this year in terms of tourism,” he noted.