On 10 March 2010 the government of Armenia and the European Bank for Reconstruction and Development (EBRD) signed a 15 million euro loan agreement. The agreement was signed by the finance minister Tigran Davtyan and head of the EBRD office in Yerevan Valeriu Razlog.
According to the ministry of finance, the EBRD and the European Investment Bank will provide 5 million euros each for the same interest rate – just over 1% (Libor +1%), another 5 million euros will be granted under the EU Neighbourhood Investment Facility. Funds are provided for 15 years, at a 3-year grace period.
The Armenian government attaches great importance to the stable work of Yerevan metro, Tigran Davtyan said.
The mayor of Yerevan Gagik Beglaryan promised, that after the reconstruction, no problem related to the operation of the metro will arise for another 30 years.
