EBRD Grants €236 Million Loan for Armenia’s Largest Road Project

The European Bank for Reconstruction and Development (EBRD) has approved a €236 million loan to Armenia for the construction of the southern section of the Sisian-Kajaran road, marking the largest road infrastructure project financed by the EBRD in the country.

The loan agreement was signed by Armenia’s Minister of Finance, Vahe Hovhannisyan, and EBRD Managing Director of Sustainable Infrastructure Group, Nandita Parshad, during the EBRD Annual Meeting and Business Forum in Yerevan. The project also received technical cooperation funding from the European Union (EU) for the feasibility study and environmental and social impact assessment.

The funding will facilitate the construction of a 24-kilometer road segment between Sisian and Kajaran, which is part of the North-South Road Corridor. This new road aims to enhance Armenia’s local, regional, and international connectivity, providing improved access to international markets via the Black Sea.

“We appreciate Armenia’s aspiration to develop a transport and logistics infrastructure that will enhance its regional connectivity and integration with external markets,” said Nandita Parshad. “We support this project because it meets our strategic objectives in Armenia and the region. We are also grateful to our partner, the European Union, which provided technical cooperation support to ease the implementation of this important initiative.”