136 MILLION DOLLARS LOAN DISPOSED BY JAPAN BANK
Japan bank disposes 136 million dollars loan to Armenia to carry out 880km road reconstruction. The information is provided by Andranik Manukyan, the minister of transport and communication.
According to him the loan will be disposed in spring but the reconstructions will start in 2009. He said that countryside roads are in critical situation and they must be reconstructed as soon as possible. The Government disposes 9.6 billion drams to start the reconstruction in some critical roads. Besides the government’s financial aids, “Millennium Challenges” American corporation disposed money to reconstruct 293km country side roads, and Asian development bank also disposed 30.6 million dollars loan to reconstruct 228km roads.
The ministry of transport and communication plans to finish the road reconstruction project till 2012.