Yerevan /Mediamax/. Armenian government approved today the loan program for construction of North-South road corridor in 2010-2017.

Mediamax reports that Armenian Minister of Economy Nerses Yeritsyan stated at the session of the government today that the total cost of the loan program, funded by the Asian Development Bank, will make $500mln.

According to the Minister, the first tranche of the loan in the amount of $60mln will be received in early 2010. Nerses Yeritsyan informed that at the first stage, they will complete the construction of Yerevan-Gyumri, Yerevan-Ashtarak and Yerevan-Ararat roads.

The Minister of Economy stated that according to the program, at the second stage, they will realize construction of Sisian-Kapan road. All in all, according to him, they plan to realize construction of 250km of roads at the sum of $120mln in 2010.