ADB to provide Armenia with EUR236 million for construction of  Sisian-Kajaran road

ArmInfo. On July 2, the extraordinary session of the National Assembly of the Republic of Armenia discussed the draft agreement with the Asian Development Bank submitted by the RA government for ratification. 

According to Kristine Ghalechyan, Deputy Minister of Territorial  Administration and Infrastructure of the Republic of Armenia, the  Loan Agreement between the Republic of Armenia and the Asian  Development Bank on the Resilient and Inclusive Road Sector  Improvement Project provides for a loan of 236.000.000 euros to  Armenia. It will finance the construction of the Northern Subsection  of the new Sisian-Kajaran road section, which is about 60 km long. 

Within the framework of the Agreement, a 27.1 km long asphalt  concrete road with a climate and disaster resistance will be  constructed.  The construction works of the road section include the  construction of an asphalt concrete road, 3 tunnels with a total  length of about 1.8 km, 16 bridges with a total length of about 3 km,  83 culverts, and 28 concrete retaining walls.

The construction period is 6 years, and the quality liability period  is 2 years. The loan will be provided for a period of 24.5 years, the  grace period is 12 years, the repayment period is 12.5 years. The  annual interest rate will be about 3.4%.