The European Bank for Reconstruction and Development (EBRD) will provide a €236 million loan to Armenia to finance the construction of the twenty-four kilometer southern section of the Sisian-Kajaran road, a part of the North-South Corridor.  

This is the largest road infrastructure project ever financed by the EBRD in Armenia.

The loan agreement was signed today in Yerevan by Armenian Minister of Finance Vahe Hovhannisyan and Executive Director of EBRD Sustainable Infrastructure Group Nandita Parshad during the EBRD Annual Meeting and Business Forum.

This has previously been supplemented by technical cooperation funding generously provided by the European Union (EU). These funds will be used to carry out feasibility studies, as well as environmental and social impact assessments.