The European Bank for Reconstruction and Development (EBRD) has extended a €20 million sovereign loan to Armenia to support the Yerevan Bus Company to acquire new buses working on compressed natural gas.
The vehicles will improve the service for the city’s 1 million inhabitants by increasing the reliability, safety and efficiency of public transport while benefiting the environment by reducing emissions. The Yerevan Bus Company will also benefit from the EBRD’s technical cooperation support for the introduction of a new ticketing system.
The EBRD loan is supported by a capital grant of €5 million provided by the Eastern Europe Energy Efficiency and Environment Partnership (E5P).
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