The Armenian government today approved the signing of two agreements with the European Bank for Reconstruction and Development (EBRD) for the purchase of natural gas-powered buses to be deployed in Yerevan.

The first agreement is a fifteen year 20-million-euro loan contract, and the second is a 5 million euro grant to Yerevan Bus CJSC.

The government has launched a project to obtain 845 buses of different sizes to service Yerevan’s new public transportation network.

The funds will be used to purchase 100 twelve-meter buses.

According to preliminary estimates, 120-150 million euros will be needed to purchase the total number of buses needed.