Asian Development Bank to allot $300 million in loan to Armenia

In the end of June Yerevan City hall will submit the loan program to the ADB Board for approval.

The Yerevan City Hall press service reported that under a prior arrangement, the loan is to be allotted in several tranches.

From the first tranche, U.S. $85m, funds will be provided for the renovation of the Yeritasardakan (Youth) subway station in Yerevan.

In addition, the funds will go for the purchase of new buses and minibuses.

Presently, ADB and Yerevan City Hall representatives are specifying the loan program.


/News.am/