The European Bank for Reconstruction and Development (EBRD) is financing a street rehabilitation program in Gyumri, the second largest city in Armenia, with a €14.6 million sovereign loan, Arka.am reports.
The financing will fund the rehabilitation of the city’s major streets, as well as modernization of street lighting, and will be disbursed in three tranches, EBRD said today in a press release.
It said the loan agreement was signed during the EBRD’s Annual meeting in London today by the Deputy Prime Minister of Armenia, Vache Gabrielyan, and EBRD Managing Director for eastern Europe and the Caucasus, Francis Malige.
