In 2024, Armenia took out a loan of 804 million euros for the North-South project
Armenia will once again receive a loan for the North-South Transit Highway. In 2024, Armenia secured a loan of approximately 804 million euros for the construction of the highway. The project, which began in 2009, is still incomplete. The construction and operation are expected to be completed by 2033.
As part of the North-South project, a 556-kilometer-long highway is planned to be constructed, stretching from the border with Iran to the border with Georgia, positioning Armenia as a transit country for international transport corridors.
On November 16, the President of the European Investment Bank signed several agreements in Yerevan worth 236 million euros to fund the construction of the Sisian-Kajaran section of the North-South transport corridor.
The bank has also provided a loan of 58.5 million euros to three Armenian banks to expand financing for micro, small, and medium-sized enterprises (SMEs) in the country.