Russian Deputy PM says Russia financing construction of Pashinyan’s Crossroads of Peace

Russia is financing the construction of the Crossroads of Peace project, proposed by Prime Minister Nikol Pashinyan as part of the possible opening of communications in the South Caucasus, Russian Deputy Prime Minister Alexey Overchuk said at a meeting of the Armenian-Russian intergovernmental commission in Yerevan.

“We practically support the construction of the Crossroads of Peace project already proposed by Armenian Prime Minister Nikol Pashinyan. The Eurasian Fund for Stabilization and Development is financing the construction of the fourth stage of the North–South highway corridor, the support now amounts to $150 million.

Also, the decision on the support of the Kajaran tunnel is being discussed by the collegial bodies of the fund, where the support will be $200 million. The fund’s investment portfolio in Armenia for 10 projects is estimated at $533 million, and more projects at $300 million are under discussion,” he said.

Overchuk also touched upon another important area of the Armenian-Russian relations: the peaceful use of nuclear energy, noting that Armenia and Russia are negotiating the construction of new nuclear power units in the country.

He thanked his Armenian colleagues for choosing a Russian company to carry out work on extending the life of the NPP.