YEREVAN, MAY 15, ARMENPRESS. The Minister of Finance of the Republic of Armenia, Vahe Hovhannisyan, and the Executive Director of the Sustainable Infrastructure Group of the European Bank for Reconstruction and Development, Nandita Parshad, signed a loan agreement worth €236 million for the construction of the 24.2 km southern section of the Sisian-Kajaran North-South Road.

After the official signing ceremony, Nandita Parshad delivered a speech, expressing the bank's great honor to be present in Armenia and to sign the significant agreement for financing the construction of the southern section of the Sisian-Kajaran road. She highlighted that this project will not only facilitate further investments but also enhance trade and contribute to the prosperity of the Armenian people.

"This project is a strategic priority for Armenia, ensuring its connectivity and access to Europe and beyond. It's a key component of the North-South Corridor and the expanded Trans-European Transport Network. Therefore, it's also one of the European Union's flagship global transport projects," stated Parshad.

She thanked the Government of Armenia, the European Investment Bank and the Asian Development Bank.

“We express special gratitude to the donors who provided comprehensive support in the preparation of this project, the European Union and the EBRD Equity Special Fund. Finally, I would like to thank and congratulate the teams of the Government of Armenia and the various departments of the EBRD who worked very hard to achieve this signing, and who I know will work even harder to bring this project to successful implementation,” she concluded.