ArmInfo. The Republic of Armenia and the Eurasian Development Bank (EDB) will sign a loan agreement for the provision of an investment loan in the amount of $200 million from the Eurasian Fund for Stabilization and Development (EFSD) to finance the project within the framework of the road corridor investment program. The proposal to sign the document was approved by the Cabinet of Ministers on July 25.
As stated in the explanatory note to the document, the project plans to build the Kajaran tunnel (length about 7 km) and reconstruct the existing section of the M2 Yerevan-Yeraskh-Goris-Meghri-Iranian border road with a length of about 4 km (entrance to the Kajaran tunnel - intersection of the planned new section of the Sisian-Kajaran road).
It is planned to alienate about 160 land plots for the needs of the project. The estimated period for the implementation of the planned construction works will be about 6 years. The estimated cost of the planned construction works (including VAT) is 144.6 billion drams (or about 369 million US dollars).
Earlier, ArmInfo, citing MTUI, reported that work on the construction of a tunnel (about 7 km long) and the reconstruction of a 4-kilometer section of the existing M-2 road Yerevan-Yeraskh-Goris-Meghri- Iranian border is planned to begin only in 2025. In general, the investment program of the North-South road corridor, which was planned to be completed within 4-5 years (the start was given on September 13, 2012), spending less than $ 1 billion, has been implemented by 10% to date, and the amount of attracted loans as of the end of May 2024 amounted to $ 800.7 million. Within the framework of the project, borrowed funds from the EDB (EFSD), according to the Ministry of Finance of the Republic of Armenia, amounted to $ 150 million. (Tranche 4, Artashat-Agarak road section).
is one of the largest projects in the history of independent Armenia. This road will reduce the distance from the Iranian border to the Georgian border from 556 to 490 kilometers. The road will significantly facilitate access to the Black Sea not only for Armenia, but also for Iran.
