Armenia Gets ADB Aid for Urban Transport Development

In its first investment in Armenia’s urban transport sector, the Asian Development Bank has approved a multitranche financing facility that will support efforts to upgrade transport services in 12 cities across the country.

The facility comprises five installments, with the first tranche worth approximately $50 million to be used for the construction of a ring road in Yerevan, the country’s capital city.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.