Georgia and Armenia are one step closer to building a new bridge named Friendship Bridge which is set to facilitate regional trade and passenger flow, Agenda.ge reports.

Located 60 kilometres south of Georgia’s capital Tbilisi, the bridge at the Sadakhlo-Bagratashen checkpoint is the main crossing between Georgia and Armenia.

The European Bank for Reconstruction and Development (EBRD) has provided a sovereign loan of up to €6 million to Georgia in order to co-finance the construction of the cross-border bridge connecting the two countries.

One part of the bridge will be constructed on Georgia’s territory, while the other part on Armenia’s territory. Accordingly, 50 percent of the credit will be paid by Armenia and 50 percent by Georgia.

Georgia and Armenia announced the construction of the Friendship Bridge in November 2016 as a symbol of friendship between the two neighbouring nations.

The bridge will pass over Debed River and ease traffic between the two countries.