YEREVAN, February 26. /ARKA/. Abu Dhabi Development Fund is to provide $10 million to Armenia for Arpa-Sevan tunnel reconstruction.
Appropriate credit agreement between the Fund and Armenian government was ratified Tuesday at Armenian Parliament’s session.
Armenian State Water Committee Chairman Andranik Andreasyan said the money will be targeted for reconstructing the unique hydro technical facility – Arpa-Sevan.
“The credit is given for 15 years under 3% annual interest rate. The country will be exempted from payment for first five years”, he said.
He said the construction consists of two basic 50-kilometer tunnels.
Andreasyan said that the major part of the work will be concentrated on the second tunnel’s sections of 30 kilometers, which connect Yeghin Gorge with Lake Sevan.
The head of the state water committee said that construction of communications, railways and facilities supplying electric power as well as lighting is planned.
“The construction is planned to be launched in 2008”, Andreasyan said.
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