The Government of Armenia, with the support of the European Bank for Reconstruction and Development (EBRD), will begin renovating the Yerevan Metro this year.
For that aim, on March 10, a 15-million EUR loan agreement will be signed between Armenian Finance Minister Tigran Davtyan and Head of EBRD Yerevan Office Valeriu Razlog. Within this program, 5 million EUR will be provided by the European Union Neighborhood Investment Program as a grant. EBRD and the European Investment Bank will provide loans about 5 million EUR each. Besides the loans, a Program Support Agreement with Yerevan City Hall and a Program Agreement with Karen Demirchyan Yerevan Metro CJSC will be signed to implement all the activities stipulated by the loan.
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