Starting this year, the Armenia government will launch the "Yervan Mero rehabilitation Project", to improve and reform public transport services in the capital of Armenia, with financing from The European Bank for Reconstruction and Development. The financing agreement was signed today by RoA Prime Minister Tigran Sargsyan and ERBD Yerevan Office Head, Valeriu Razlog. The total project cost is estimated to be up to EUR 16.63 million. On top of the Bank’s 5 million EUR loan, the European Investment Bank will kick in with a loan of EUR 5 million and the EU’s Neighborhood Investment Facility has approved a grant in the amount of EUR 5 million. According to the EBRD, the project would primarily benefit lower-income groups, who rely on the poorly maintained metro system.