From Armenia in brief: Asian Development Bank to help finance North-South corridor

Published: Saturday February 21, 2009

Gurgen Sargsian, Armenia’s minister of transport and communication. Photolure

Yerevan - During a meeting with Gurgen Sargsian, Armenia's minister of transport and communication, Hong Wang of ADB's Central and Western Department on Transport and Communication said that they are now in the process of choosing a consulting company for the program that will build the North-South transport corridor. ADB will allocate a $1 million grant for the construction that will be carried out on Armenian territory.

Mr. Wong also stated that the construction will be implemented through several stages. According to Armenpress, Mr. Sargsian stressed the importance of this transport corridor, which will link Armenia and Georgia and at the same time secure transit cargo transportation.

Regarding the possibility of constructing an Iran-Armenia railroad, the Armenian minister said that ADB has shown interest in that project as well.