Yerevan /Mediamax/. Armenian Ministry of Finance and the World Bank (WB) signed an agreement in Yerevan today on Additional Financing for Lifeline Road Improvement Project (LRIP-AF2) for the sum of $40mln.

Mediamax reports that according to Minister of Finance Tigran Davtyan, these means will not only be directed into the country’s economy, but will also allow creating new workplaces, increasing tax proceeds and this will positively influence the growth of GDP.

Minister stressed that reestablishment of infrastructure in rural areas will contribute to development of the Republic’s regions and agricultural communities in general.

According to Acting Head of Yerevan office of World Bank (WB) Naira Melkumyan, within the framework of this program they plan to repair 190km of roads in 9 marzes of the republic.

She reminded that the main program of rural roads construction in Armenia was approved by WB in February, 2009. The cost of the entire project makes over $100mln and provides for repair of 430km of roads in Armenia.