Armenia to get more than €60M loan from Asian Development Bank to build Isakov-Arshakunyats road in Yerevan

At its Cabinet meeting Thursday, the Armenian government approved the ratification of the Yerevan Urban Development Investment Project loan agreement with the Asian Development Bank (ADB).

The amount to be provided for in this agreement is a loan of 60,090,000 euros.

The project under this agreement is expected to conclude on September 30, 2027.

Pursuant to this agreement, the loan repayment date shall be March 31, 2028, or such date as may be agreed upon between the borrower and the ADB from time to time.

Within the framework of this agreement, the Isakov-Arshakunyats road will be built, which will connect several administrative districts of Armenia’s capital city of Yerevan, taking on large traffic flows and reducing traffic jams.