Armenian government approves North-South highway investment plan

October 5, 2017 By administrator

The cabinet on Thursday approved an investment plan aimed at the construction of the North-South Highway corridor.

The document, signed in May 2011 between the Republic of Armenia and the Asian Development Bank, is in line with the Constitution, said Vahan Martirosyan, the minister of transport, communication and information technologies.

“The agreement proposes measures to prolong the Plan 2 credit agreement for 27 months, as well as further steps to extend the Plan 3 credit agreement for 21 months,” he told the cabinet members.

The bill will be submitted to the National Assembly for ratification.

Armenia short of financial resources to complete North-South highway construction – ADB representative

August 30, 2017 By administrator

Recent findings by the Asian Development bank reveal that the Armenian Government has insufficient financial resources to complete a major motorway project connecting the country’s north with the south.

Speaking to Tert.am, Silva Adamyan, the head of an ADB working group conducting a monitoring of organizations, said their activities, conducted since 2009, herald no chances of bringing the North-South highway construction to life.

“Creditors are not able to exercise monitoring mechanisms, so it is for the state to demonstrate the necessary political will to construct the motorway which is of such a vital importance to Armenia,” she said.

In response to our earlier request, sources from the Ministry of Transport, Communication and Information Technologies said the total spending of the project covered US $150.3 million and €23.14. But no further details were provided as to the further costs required for finishing the construction.

The ADB has periodically conducted meetings with Ministry representatives since 2009 and in 2011, it arranged talks also with top responsible officers for Caucasus projects. “We tried to convey to them our concerns over the lack of progress despite the availability of financial means. And in 2012-2013, we decided to raise the problem as we saw that absolutely no steps were being taken; what’s even more, we tried to involve members of the National Assembly. At the annual meeting in Kazakhstan, we informed the bank representatives of the situation and later really recorded a certain progress. For the moment, 31km out of the 556km are finished,” Adamyan noted.

She added that she also met with the ADB resident representative in Armenia. “What the top representative told me was that they treat that project very cautiously as they do not think the government can possibly continue it.”

“The Asian Development Bank’s funding for the entire program will amount to $550 million which will add to the European Bank’s allocation of $150 million. Yet, the government proves to be facing a shortage of means to complete the project,” Adamyan said.

Edmon Marukyan, an opposition MP from the political bloc Yelk, blames the government for abusing resources. “We never had such an unprecedented theft in the history of Armenia. The spent 5.650.000$, for 1km to complete only 31km and leaving another 525km unfinished,” he said.

Asked whether any legislative measures are being considered, the lawmaker did not rule out the possibility of raising the problem at a parliamentary committee meeting.

€12 mln EU grant to boost completion of North-South Road Corridor

November 19, 2016 By administrator

north-south-corridor-eu PanARMENIAN.Net – Armenia and the European Investment Bank (EIB) have signed a grant agreement under the Neighbourhood Investment Facility (NIF) to support the completion of the North-South Road Corridor, a strategic part of Armenia’s transport infrastructure.

The NIF budget made available a grant of EUR 12 million to Armenia for the North-South Road Corridor Investment Programme. The NIF grant is made available by the EIB on behalf of the European Commission to the Republic of Armenia. It consists of two components: a EUR 6 million investment grant and a EUR 6 million technical assistance component. The purpose of the agreement signed today is to set the terms and conditions for the EUR 6 million investment grant component to finance works and supplies necessary for the Armenia North-South Road Corridor Investment Programme. The agreement for making available the EUR 6 million technical assistance component was already signed last year.

EIB Vice-President Jan Vapaavuori, commented: “I very much appreciate that the European Investment Bank together with the European Commission are joining forces with the Republic of Armenia to develop adequate, efficient and safe road infrastructure improving people’s quality of everyday life and fostering economic growth and regional cooperation.”

Armenia’s Minister of Finance Vardan Aramyan highlighted the importance of infrastructure projects in Armenia, expressed gratitude to the EU for its continuous support through NIF funding and especially stressed the fruitful cooperation with the EIB aimed at infrastructural development and its efforts for mobilising grant resources.

Piotr Antoni Świtalski, Ambassador and Head of the EU Delegation to Armenia added: “For a country like Armenia, connectivity is a necessity” and continued by underlining that “the EU is delighted to be able to contribute to the efforts made by the EIB to ensure that Armenian citizens and businesses can circulate more freely and safely in Armenia and access more easily other neighbouring territories and markets.”

In 2013 the EIB signed a EUR 60 million loan to finance the upgrading of the North-South Road Corridor – the key transport corridor in Armenia. This project promotes economic and social development in Armenia and improves regional integration, with significant benefits for the whole region. This project is part of an ambitious programme aimed at improving the 556 km North-South Road Corridor running from the border with Georgia at Bavra to the border with Iran at Meghri via the cities of Bavra, Gyumri, Ashtarak, Yerevan, Goris, Comer, Kapan and Meghri.

Armenia North-South Road Corridor first section opens

December 29, 2015 By administrator

(News.am) YEREVAN. – The President of Armenia, Serzh Sargsyan, on Tuesday traveled to Ararat Province

Sargsyan was on hand at the official opening of the first section—between capital city Yerevan and Artashat city—of the North-South Road Corridor investment project being implemented in the country.

The Press Office of the President informed Armenian News-NEWS.am that, after the opening ceremony, those in charge of this project briefed Serzh Sargsyan on the course and upcoming events of this road corridor construction venture.