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EBRD to allocate 10.3 mln euros to modernization of Armeniaâ€™s border infrastructure

23 November 2012 12:04 (UTC +04:00)

Baku. Shamil Alibayli – APA. The European Bank for Reconstruction and Development (EBRD) will allocate 10.3 mln euros to Armenia for construction of new bridge in Bagratashen checkpoint, located on Georgian border.

APA reports quoting EBRD’s press service that these funds will be allocated on financing of the Northern Corridor Modernization Program. The cost of the program is 62.6 mln euros. In line with EBRD, the program is funded also by the EU’s Neighbourhood Investment Facility (NIF) and UNDP. The upgrading of the access infrastructure at the proposed BCPs will create a more efficient economic transport corridor facilitating regional trade and passenger flows, strengthening the international cooperation between the South Caucasus countries. The project will also provide adequate operational conditions at the upgraded BCPs to ensure that the potential for economic benefits are not hindered by operational difficulties.

Note that, Bagratashen checkpoint is one of the main corridors joining Armenia with the world.