The European Bank will invest in the modernization of the Yerevan underground

5 million euros will be made available to renovate the Yerevan underground train system, due to a credit agreement between Yerevan and the European Bank for Reconstruction and Development (EBRD) reports News.am. In total the project will cost 15 million euros.
Apart from the EBRD, 5 million will be given by the European Commission as a grant and from the European Investment Bank as a credit. The rate of interest is 1 % over the base rate.