Armenia to Receive $100M for North-South Highway

Construction of the North-South Highway began in September of last year

YEREVAN—Armenia will receive $100 million from the Eurasian Economic Community’s “anti-crisis” fund, a Eurasian Development Bank official said Wednesday.

The 556 km (345 mile) corridor, designed to improve transport links between Europe, the Caucasus and Asia, in particular between Eastern Europe and western Asia, is to be completed by 2017.

In January 2010, the Armenian government approved an investment program for the North-South transport corridor, and a framework finance agreement between Armenia and the Asian Development Bank worth a total of $500 million.

Wednesday’s decision came after discussions between the Eurasian Development Bank’s Deputy President Sergei Shatalov and Armenia’s Transport and Communications Minister Gagik Beglaryan, the ministry’s press service told RIA Novosti.

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  1. An Armenian said:

    Gagik Beglaryan, the former mayor of the city of Yerevan. As the mayor of Yerevan, Gagik Beglaryan beat up an usher working at the concert hall for refusing to seat him where Gagik Beglaryan wanted to be seated instead of the seat assigned to him on his invitation. Serzh Sargisyan removed him from his post as the mayor of Yerevan and later appointed him as the minister of Transport and Communications. So we have a thug as the minister of Transport and Communications, a former singer, Ms. Shushan Bedrosyan, who was “elected” a member of parliament under the Republican Party of Armenia soon after she changed her party affiliation and a Prime Minister, Mr. Digran Sargisyan, with millions of dollars in an off shore account in Cyprus who claims no knowledge of it. Perhaps Mr. Digran Sargsyan has amnesia just like his boss Mr. Serzh Sarsyan. That basically sums up the Armenian government in a nutshell.

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