On Feb 11, Minister of Finance Vache Gabrielyan and World Bank Country Manager for Armenia Jean-Michel Happi inked a loan agreement on “lifeline road network improvement”.

According to the ministry’s press service, International Bank for Reconstruction and Development (IBRD) will allocate USD 45 million loan to Armenia for 25-year time period as part of the project.

The initiative aims to enhance access to market and rural community services, boosting Armenia’s transport and communication ministry’s control of lifeline road network.

The project to run until June 30, 2017 envisages improvement of 147 km road network.