Lincy Foundation established by Armenian American philanthropist and millionaire has announced it will provide $60 million to Armenia to implement 3 new programs to develop infrastructure. As reported by Lincy Foundation Beverly Hills representation, California, works will start after respective agreements are approved and signed between the Government of Armenia and the Foundation. The sum allocated will be spent on major repairs of schools, streets in Yerevan, as well as motor roads in Armenia. Lincy Foundation has already successfully implemented an infrastructure development program costing $150 million that included the building and repairs of motor roads of 490 km total length, as well as 5 bridges, two tunnels, 17 streets in Yerevan, the Republic Square, 3674 flats in the earthquake zone and 34 cultural institutions. Besides, the Foundation has allocated a credit of $20 million to Armenian small and medium scale enterprises, reported Regnum news agency.
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