60 Million Euro Loan for the Construction of the Isakov-Arshakunyats Road Segment

The Armenian government approved a loan of 60 million euros for the construction of the Isakov-Arshakunyats road segment during its session today.

The loan agreement between the Republic of Armenia and the Asian Development Bank regarding the "Yerevan Urban Development Investment Program" was signed on November 27, 2023.

The program outlined in the agreement is expected to be completed by September 30, 2027, and the loan must be repaid by March 31, 2028.

According to the agreement, the Isakov-Arshakunyats road segment will be constructed, linking several administrative districts of Yerevan, accommodating significant transportation flows, and reducing traffic congestion. The Isakov-Arshakunyats segment serves as a logical continuation of Monte Melkonyan Street.

The road construction works will include the necessary wings of the existing intersection on Isakov Avenue, which will ensure access to the Noragugh district, the construction of a 269-meter long reinforced concrete bridge over the Hrazdan River, a tunnel passage on Arshakunyats Avenue, and a circular traffic intersection.

The total length of the main road will be 1.9 km.