The European Investment Bank signed a €5mln loan agreement with Armenia for implementation of Yerevan Metro Rehabilitation project.

As reported by the press office of the RA Ministry of Finance, the sum is a part of a €15mln project envisaged for implementation of the first stage of the project. The loan will be provided for 15 years with 4 year grace period.

According to an agreement concluded on March 10, 2010, the European Bank for Reconstruction and Development will allocate another €5mln in the framework of Neighborhood Investment Program.

The project consists of the addressing the problem of the water ingress into the metro tunnels, modernization of the infrastructure and refurbishment of the rolling stock.