Yerevan Metro to Undergo Much-Needed Renovation This Year

The Government of Armenia, with the support of the European Bank for Reconstruction and Development (EBRD), will begin renovating the Yerevan Metro this year. For that aim, on March 10, a 15-million EUR loan agreement will be signed between Armenian Finance Minister Tigran Davtyan and Head of EBRD Yerevan Office Valeriu Razlog.

Within this program, 5 million EUR will be provided by the European Union Neighborhood Investment Program as a grant. EBRD and the European Investment Bank will provide loans about 5 million EUR each.

Besides the loans, a Program Support Agreement with Yerevan City Hall and a Program Agreement with Karen Demirchyan Yerevan Metro CJSC will be signed to implement all the activities stipulated by the loan.