Russian Deputy Prime Minister on the 'Peace Crossroads' Project

The Russian Federation is participating in the implementation of the 'Peace Crossroads' project proposed by the Armenian authorities. This was stated by Russian Deputy Prime Minister Alexey Overchuk during a meeting of the intergovernmental commission in Yerevan.

According to him, the construction of the fourth segment of the 'North-South' road corridor is being financed through the Eurasian Development and Stabilization Fund, which is essentially a component of the project. In this regard, the current volume of support amounts to $150 million.

"A decision to support the construction of the Kapan tunnel has been submitted for approval to the collegial bodies of the Fund. The volume of support in this case will amount to $200 million," Overchuk reported.

He also mentioned that the Fund plans to implement 10 projects in Armenia, with an investment portfolio estimated at $533 million, while an additional $300 million worth of projects are in the discussion phase.