ArmInfo.Armenia will allocate 25 million euros for the modernization of urban transport. The loan agreement "Yerevan Bus Program" was signed on November 24 at the RA Ministry of Finance between the Republic of Armenia and the European Bank for Reconstruction and Development (EBRD).
According to the RA Ministry of Finance, the document was signed by Finance Minister Tigran Khachatryan, Head of the EBRD Armenian Office Dmitri Gvindadze, Yerevan Mayor Hayk Marutyan, Director of "Yerevan Bus" CJSC Elbak Tarposhyan. Under the agreement, Armenia will receive 25 million euros for the purchase of city buses and the modernization of the urban transport network, of which 5 million euros will be provided by the Eastern Europe Energy Efficiency and Environment Partnership (E5P) as a grant.
The event was also attended by Minister of Territorial Administration and Infrastructure of the Republic of Armenia Gnel Sanosyan, Head of the EU Delegation to Armenia Andrea Wiktorin, Ambassador Extraordinary and Plenipotentiary of Sweden to Armenia Patrick Svensson, as well as other representatives of international and diplomatic delegations.
Earlier ArmInfo reported that Armenia will allocate 25 million euros for the implementation of the first stage of modernization of public transport in Yerevan. According to preliminary estimates, the purchase of new buses serving public transport in the city of Yerevan will require 120-150 million euros. At a government meeting on October 28, Minister of Territorial Administration and Infrastructures Gnel Sanosyan stated that earlier the consulting company studied the transport network of the city of Yerevan, on the basis of which a new route network of public transport in the Armenian capital was developed. To service the new route network, it is planned to introduce 845 buses of various sizes. At the first stage, 100 buses with a length of 12 meters will be purchased; 25 million euros will be allocated for financing.
