Eurasian Development Bank invests in constructing Armenian motorways

The Eurasian Development Bank decided to allot $100 million USD for constructing the north-south motorway in Armenia. In particular, the amount will be spent on the southern segment of the motorway. Altogether, it is estimated that the construction of the Armenian motorway will cost around $1.5 billion USD. The length of the motorway will be 556 kilometers. It will connect Iran with Georgia. The project was confirmed and supported by the Asian Bank which will allot $500 million USD. The Armenian government will co-finance the project with $462 million USD.