YEREVAN (PanARMENIAN.Net), March 10–The European Bank of Reconstruction and Development (EBRD) will allocate 15 million euro to Yerevan underground railway reconstruction.

The Armenian Minister of Finance Tigran Davtyan and head of EBRD Yerevan office Valeriu Razlog will sign a loan agreement on March 10, 2010.

To increase the effectiveness of the reconstruction program, contracts on program support with Yerevan City Hall and a program agreement with Yerevan Underground Railway CJSC are also envisioned.

The EBRD, owned by 61 countries and two intergovernmental institutions, is supporting the development of market economies and democracies in countries from Central Europe to Central Asia.