EBRD to develop subway, trolley parks and paid parking lots in Yerevan

YEREVAN, November 27. / ARKA /. The European Bank for Reconstruction and Development and the City of Yerevan will cooperate in development programs of the underground metro, trolley parks, and fee based parking lots. 

As it was reported on the official site of the capital's city hall, the mayor of Yerevan Gagik Beglaryan and Business Group Director of the European Bank for Reconstruction and Development in South-Eastern Europe, Caucasus and Central Asia Olivier Descamps discussed the prospects of development of urban infrastructures. 

According to the report, the EBRD will provide both consultations and credit funds. 

"The successful negotiations inspire one to quickly launch the programs," Descamps said. 
He also said that an agreement on the implementation of these programs, according to preliminary agreement will be signed in January of next year.

In his turn, the mayor of Yerevan suggested starting with small programs in order for the large-scale investments to be used more purposefully. 
The EBRD is one of the largest investors in Armenia. 

Investments of the European Bank for Reconstruction and Development in Armenia in 2009 will total 150 million USD versus 75 million USD for the year 2008.

Currently, the EBRD has invested more than 335 million Euros in the implementation of more than 70 programs in various sectors of the economy of Armenia. - 0 --