Armenia to receive loan from Evrazes

Armenia is preparing the documents which will enable it to receive a USD 600 million credit from the Evrazes Foundation for the construction of the so-called north-south railways connecting Armenia with Iran. As Russian PM Putin stated in May Evrazes will process and consider Armenia’s application. Putin thinks that this is not an easy project from an economic point of view, however Russia has certain interest in it.

Armenian experts have assessed the initial cost of the project as being up to USD 1.8 billion. The Asian Development Bank decided to allot Armenia a USD 1 million loan to produce a feasibility study for the project, which involves constructing 470 km of track, 60 km on Iranian territory and 410 on Armenian territory.