OREANDA-NEWS. Experts from Eurasian Development Bank (EDB), headed by Alexey Cherekayev, Director of the Project Group for Investment Credits at the EurAsEC Anti-Crisis Fund (ACF), took part in a donor conference in Yerevan held by the Armenian Ministry of Transport and Communications. The participants discussed possible projects in the road construction sector in Armenia.

During the trip EDB experts also negotiated the credit agreement on the construction of the North-South road corridor. The ACF Council approved the extension of finance for this investment project in July 2014.

The North-South international transport corridor is expected to ensure a road connection between Europe and India through Iran and Transcaucasia countries. It will cross Armenia from the Iranian border in the south to the Georgian border in the north.

The main advantages of the route (in particular, compared to the sea route through the Suez Canal) are that it will more than halve the distance and reduce the cost and time of transportation.

The North-South road is also part of the AH82 highway, which links Central Asian countries. Therefore, this route will make it possible for the region and in the first place Kazakhstan to re-orient their exports through Russia to the Black Sea and Persian Gulf countries.