800 Million Dram Allocated to Territorial Administration for Vanadzor-Alaverdi-Georgia Border Road Construction

In a bid to ensure the smooth execution of the road safety improvement program in Armenia, the government has adopted the relevant decision. Accordingly, it is envisaged to allocate 800 million drams to the Ministry of Territorial Administration and Infrastructure of the Republic of Armenia under the grant program aimed at enhancing the security of the M6 interstate road from Vanadzor to Alaverdi and the Georgia border, which is supported by the European Investment Bank.

The decision aims to fulfill the client’s obligation to provide advance payment to the selected contractor organizations as part of the investment grant agreement signed between the Republic of Armenia and the European Investment Bank on November 27 and December 4, 2019, within the framework of the “Road Safety Improvement Program” under the Neighborhood Investment Facility. It also pertains to the advance payments for the selected contractors resulting from two planned new competitive bidding processes.