On August 8, Armenian Minister of Transport and Communications Gagik Beglaryan met with European Investment Bank (EIB) director of planning and settlement of operations Heinz Olbers.

Minister Beglaryan commended EIB for the cooperation, stressing the need for speeding up preparatory works for Armenia-related programs.

Issues related to the schedule of technical analyses and preparatory works were further discussed.

EIB expressed readiness to allocate USD 50 mln. to repair Vanadzor-Bagratashen 92 km highway (border with Georgia).

Mr. Olbers accepted Minister Beglaryan’s proposal on speed-up of Armenia-related programs, with EIB voicing readiness to discuss North-South transport corridor funding tranche 3.