EUROPEAN INVESTMENT BANK ALLOTS 5 MILLION EURO TO YEREVAN METRO
Tert.am
16:29 10.08.10
European Investment Bank and the Republic of Armenia signed a credit
agreement on Tuesday that will provide Yerevan Metro with a credit
worth 5 million euro, according to a release issued by the information
department of Armenia’s Ministry of Finance.
The agreement is only part of the first stage of the whole credit
project worth a total of 15 million euro.
Another 5 million euro will be given by the European Bank for
Reconstruction and Development based on an agreement signed on March
10, 2010.
Yerevan Metro will receive the remaining 5 million euro as a grant
from EU’s Neighborhood Investment Program.
The credit is given with a 15-year pay-off period. For 4 years the
interest rates will be privileged with a 6-month EURIBOR +0.75.
The first stage of the program is planned to be over at the close
of 2012.
From: A. Papazian
Disclaimer: This article was contributed and translated into English by Andres-Papazian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2010/08/11/european-investment-bank-allots-5-million-euro-to-yerevan-metro/