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Armenia : EDB announces ACF's approval for $150 million loan to ARMENIA

July 10, 2014

The Council of the EurAsEC Anti-Crisis Fund (ACF) has agreed for a $150 million loan to Armenia for construction of phase four of the North-South Road Transport highway, said, The Eurasian Development Bank.

The ACF Council granted approval to the EDB s proposal for utilising the World Bank Procurement Policies in the project and involve bank specialists for its monitoring.

Additionally, the council has also approved ideas for two investment projects proposed by Kyrgyzstan and has requested the EDB to choose consultants to evaluate the plans. The council even approved the ACF Resources Manager s Annual Report for 2013 and discussed the funds work for this year.

The projects are for reconstruction of the Toktugul HPP, including either replacing or repairing units two and four, and the commissioning of unit two at Kambarata HPP 2.

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Source: TendersInfo (India)

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