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The Loan Agreement on “Yerevan Bus Project” has been signed at the Ministry of Finance
24.11.2021
The Loan Agreement on “Yerevan Bus Project” has been signed at the Ministry of Finance

On 24 November 2021 the Loan Agreement on “Yerevan Bus Project” has been signed between the Republic of Armenia and the European Bank for Reconstruction and Development (EBRD). The document was signed by Mr. Tigran Khachatryan, the RA Minister of Finance, Mr. Dimitri Gvindadze, EBRD Head of Yerevan office, Mr. Hayk Marutyan, Yerevan Mayor and Mr. Elbak Tarposhyan, Director of “Yerevan Bus” CJSC.

The agreement was signed on the basis of a preliminary agreement reached between the RA Government and the EBRD within the framework of the Sustainable Urban Development Investment Program. According to which 25 million EUR will be provided to Armenia for the purchase of city buses and modernization of the urban transport network. 20 million EUR will be provided as a loan, and 5 million EUR will be provided as a grant by the Eastern Europe Energy Efficiency and Environment Partnership (E5P).

The event were also attended by Mr. Gnel Sanosyan, the RA Minister of Territorial Administration and Infrastructure, H.E. Andrea Wiktorin, Head of EU Delegation in Armenia, H.E. Patrik Svensson, Ambassador Extraordinary and Plenipotentiary of the Kingdom of Sweden in Armenia, as well as other representatives of international and diplomatic delegations.