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Construction of the North-South Road Corridor in Armenia

On 2 July 2014 the ACF Council decided to provide an investment loan to Armenia to finance the Construction of the North-South Road Corridor (Phase IV) in the amount of US$ 150 million.

On 26 June 2013 the ACF Council approved the preliminary request and Concept Note for the investment project in Armenia the Construction of the North-South Road Transport Corridor (Phase 4) in the amount of US$ 100 million.

The project involves rehabilitation of a section of the transport corridor as part of the investment project Construction of North-South Road Corridor.

The “North-South” Road Corridor links Central Asia and India with Iran, Georgia, Russian Federation and Europe. The corridor passes across Armenia from South to North (Meghri-Kapan-Goris-Yerevan-Ashtarak-Gumri-Bavra), links up with the Georgian road leading to seaports Poti and Batumi (Black Sea) and on toward Russia, CIS and EU. The “North-South” road is part of the transnational motorway AH 82 interlinking such Central Asian countries as Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.

As a result of the proposed comprehensive development project, the road route Europe-Caucasus-Asia will be improved in the zone of junction between West Europe and Eastern Europe. The quickest shortcut route of the corridor, 449 km in length, in its final stretch on the territory of Georgia runs along the road Akhaltsykhe-Batumi, which is currently in need of rehabilitation.

Expected Project implementation outcomes:

  • Increase in throughput capacity and road safety in RA
  • Conditions for smooth movement of trucks and passenger cars
  • Improved access to markets and reduction of logistical costs
  • Increased transit traffic across the territory of RA, including toward destinations in EurAsEC countries
  • Good traffic conditions offered to residents of adjacent communities

Evaluation Report on the Preliminary Application

Project Documentation




15.04.15. EDB and Armenian Government agree on financing the construction of the North-South road corridor (Phase 4) in Armenia

Yerevan, 14 April 2015. Today, the Republic of Armenia and Eurasian Development Bank (EDB) signed an agreement in Yerevan on the provision of an investment credit from the Eurasian Economic Community’ Anti-Crisis Fund (ACF) to finance the construction of the North-South road corridor (Phase 4). The credit totals US $150 million and will be provided for twenty years.

The agreement was signed during EDB’s visit to Armenia. The delegation was headed by Dmitry Pankin, Chairman of the Management Board. The project will help to increase transport capacity and reduce accidents at the 20.5 km section of the North-South road from Agarak towards Kajaran. In addition, it will help to provide favourable transport conditions for adjacent settlements and boost cargo transit through Armenia, to other EDB member states in particular.

“On 2 April 2015 the ACF Council approved the draft agreement for this project and it was signed today,” says Dmitry Pankin, Chairman of the Management Board at EDB. “In addition, EDB is considering possibilities to finance other projects in Armenia in the area of mining, power, transport and warehouse infrastructure.”


06.03.15. Mission of Project Experts of EurAsEC Anti-Crisis Fund in Armenia

Moscow, 2 March 2014. A mission of the project team of the Eurasian Development Bank — Resources Manager of the EurAsEC Anti-Crisis Fund (ACF) — took place in the Republic of Armenia in the period 24 to 27 February. During the mission, the project team experts of the ACF met with Vache Gabrielyan, Vice-Prime Minister, Gagik Khachatryan, Minister of Finance, Karen Chshmarityan, Minister of Economic Development, Sergo Karapetyan, Minister of Agriculture, and Joseph Isayan, Deputy Minister of Energy and Natural Resources, to outline vectors of further cooperation and identify potential projects in transport, energy and agricultural sectors, considered for financing by the Fund.


26.11.14. EDB team participates in the donor conference held in Yerevan

Moscow, 25 November 2014. A team of Eurasian Development Bank headed by Alexei Cherekaev, Head of the Project Group, Anti-Crisis Fund (ACF) Department, has taken part in the donor conference arranged by the Ministry of Transport and Communication of the Republic of Armenia in Yerevan. The conference was convened to discuss a range of potential projects in the area of road construction in the Republic of Armenia.


03.07.14. The ACF Council decides to provide an investment loan to Armenia and approves concepts of two projects in Kyrgyzstan

Moscow, 3 July 2014. The Council of the EurAsEC Anti-Crisis Fund (ACF) decided to provide a US $150 million investment loan to Armenia to finance the construction of the North-South Road Transport Corridor (Phase 4). The resolution was based on the approval by Eurasian Development Bank (EDB), as the ACF Resources Manager, of Armenia’s application for project finance from the Fund.

The ACF Council also approved EDB’s proposal to use the World Bank Procurement Policies in this project and to involve WB specialists in project monitoring.

In addition, the ACF Council approved concepts of two investment projects submitted by Kyrgyzstan and requested EDB to select and hire consultants to evaluate them.

The projects include the reconstruction of the Toktogul HPP, including the replacement of Units 2 and 4 with the replacement or repair of auxiliary systems and station equipment, and the commissioning of Unit 2 at Kambarata HPP 2.


09.04.14. EDB experts inspect proposed locations of the North-South transport corridor in Armenia

Moscow, 8 April 2014. A multilateral mission visited the proposed locations of the North-South road transport corridor in Armenia. The mission comprised experts from Eurasian Development Bank (EDB), representatives of the North-South project group, and technical consultants from Egis (France).


07.03.14. Financing of Project “Construction of the North-South Road Transport Corridor in Armenia” can start this year

Moscow, 7 March 2014. The feasibility study for the Project “Construction of the North-South Road Transport Corridor” (Phase 4) will be completed at end-April 2014. That was announced by Armenia’s representatives during the meeting held the day before at Eurasian Development Bank (EDB). The project in the amount of US $100 million is being prepared by EDB in its capacity of the Resources Manager of the EurAsEC Anti-Crisis Fund (ACF) and in cooperation with Asian Development Bank (ADB).


04.09.13. EDB delegation in Yerevan discussed projects of the EurAsEC Anti-Crisis Fund in Armenia

Almaty, 4 September 2013. Eurasian Development Bank (EDB) delegation headed by Sergei Shatalov, Deputy Chairman of the Management Board , visited Yerevan on September 3, 2013. Key issues under consideration were related to activities of the EurAsEC Anti-Crisis Fund (ACF) in Armenia. EDB manages the resources of ACF.


27.06.13. The ACF Council approves three preliminary applications for the investment projects in Armenia and Kyrgyz Republic

Moscow, 27 June 2013. Yesterday the Council of the EurAsEC Anti-Crisis Fund (ACF) approved the blueprints for three investment projects and Manager’s evaluation reports, on the respective preliminary applications for ACF funding. These resolutions by the ACF Council authorise the preparation of feasibility studies for the projects.


Member States

  • The Republic of Armenia

    of Armenia

  • The Republic of Belarus

    of Belarus

  • The Republic of Kazakhstan

    of Kazakhstan

  • Kyrgyz Republic


  • Russian Federation


  • The Republic of Tajikistan

    of Tajikistan