MANILA, Dec. 18 (Xinhua) -- The Asian Development Bank (ADB) on Wednesday said it has approved a loan of 236 million euros (about 257 million U.S. dollars) to support the construction of a road section in the Syunik region of Armenia.
The Resilient and Inclusive Road Sector Improvement Project will construct a 27.1-km road in the northern section of the Sisian-Kajaran road, 16 bridges, and three tunnels to improve safety and reduce travel time by up to 90 minutes over the entire Sisian-Kajaran Road, the ADB said.
"In a landlocked country like Armenia, resilient road networks are of utmost importance to ensure the safe, continuous, and economic transport of people and goods," said ADB Director General for Central and West Asia Yevgeniy Zhukov.
The project aims to boost regional economic growth by improving mobility for over 140,000 residents in the Syunik region, accelerating its potential for trade, tourism, and private sector activities, the Manila-based bank said. ■
