EBRD plans to provide Armenia with a sovereign loan of up to EUR 25 million for the benefit of the city of Yerevan ("city") and the municipal transport company (the "company") to be established to operate the bus network in Yerevan. The project will finance the purchase of new modern 12-metre low-floor compressed natural gas ("CNG") buses.
According to the Yerevan Bus Project published on the website of EBRD, project is part of a broader programme aiming to assist the city to reform its public transport system by financing the renewal of its bus fleet in anticipation of the restructuring of the bus network.
The project will improve the reliability, safety and efficiency of public transport, while CNG technology will reduce air pollution in line with the Bank's Green Cities Framework and the Green City Action Plan as approved by the city of Yerevan in 2017.
EBRD Finance Summary
€25 million sovereign loan to the Republic of Armenia.
Total Project Cost
The total project cost is €25 million.
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