Eurasian Development Bank Interested in Renovation Project of Yerevan Metro

The Eurasian Development Bank (EDB) is interested in the renovation project of Yerevan’s metro infrastructure. This information was shared with reporters by Denis Ilyin, Deputy Chairman of the EDB Management Board, during a meeting of participants from the Asia and Pacific Development Institutions Association (ADFIAP) in Almaty.

“The topic of the metro is important. We are ready to finance grant and research issues, as well as the preparation of pre-design documents. Moreover, as a bank, we can work with specific documents. Tell us the scope of work, all the technical justification, and the financial model, and we are ready to consider everything for that purpose: we are still at the level of discussions,” said Ilyin.

He added that there is interest from both the Armenian government and the Yerevan city hall regarding the bank’s participation in the project. The bank envisions several scenarios for its involvement, including the construction of two new stations, fleet renewal, and a radical overhaul of the entire infrastructure.

When asked by Sputnik Armenia which of the projects is more preferred for the EDB, Ilyin answered it is the latter. “If your car is old and you put on two new headlights, the car does not work better. It is very important for us that the current metro infrastructure meets all safety standards and requirements,” Ilyin noted.

Previously, Yerevan Deputy Mayor Tigran Avinyan reported that the design phase of the “Ajapnyak” station has been completed. He mentioned that the project would be fully ready by the end of the year, and construction would last for four years. He believes that the station’s construction will increase metro passenger transportation by about 20 percent and will be the first major step towards the expansion of the metro system.