In its session on November 7, the Armenian government approved a new financial agreement with the European Investment Bank (EIB), providing Armenia with a €236 million loan for the construction of the Sisian-Kajaran road. Minister of Territorial Administration and Infrastructure, Gnel Sanosyan, highlighted that the 60-km route will include 27 bridges and 9 tunnels to improve transportation speed and safety.
The new road is expected to reduce the current route’s length by 54 km, saving travelers 1-1.5 hours of travel time. The project aims to enhance comfort and efficiency for transit routes, which will also contribute to the broader development of transport connectivity.
The construction will feature “green bridges” to allow safe passage for wildlife. Planned in three primary segments — North, Bargushat Tunnel, and South — the project is set for completion by 2033.
In addition to the EIB, the European Bank for Reconstruction and Development and the Asian Development Bank have also expressed willingness to invest in Armenia, with loan agreements currently underway.