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Armenia to get $50mn from Asian Development Bank

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YEREVAN. – The Government of Armenia and the Asian Development Bank (ADB) on Wednesday signed a loan agreement for the project toward carrying out repairs to the highway leading from Vanadzor town to the border with Georgia.

The loan will be provided in euros equivalent to $50 million; that is, about €44 million.

Finance Minister Vardan Aramyan, and ADB Country Director for Armenia, Shane Rosenthal, signed this loan agreement on behalf of the two parties.

To note, the European Investment Bank already has provided a €51 million-loan, as co-funding for this project.

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