The Government of Armenia, Gyumri Municipality, and the European Bank for Reconstruction and Development (EBRD have signed the Gyumri Urban Roads (Tranche B) grant agreement.

According to the signed agreement, the EBRD will providing Armenia with a €2.65mn grant to help rebuild selected roads, improve pavement and drainage networks, implement road safety, and install LED lighting and other street lighting equipment in Gyumri.

EBRD is one of the main funders of Gyumri road infrastructure modernization works. To this end, the Bank has provided €14.6mn of loans and €7.3mn of grants.