Yerevan Vertical Mobility and Safety Project

Today (29 May 2019), under the Asian Development Bank grant-funded Vertical Mobility and Safety Improvement Project, a consortium led by IMC Worldwide UK (IMC) held a workshop for the Yerevan Vertical Mobility and Safety Project.

Under this project, Asian Development Bank (ADB) engaged the IMC consortium to provide consultancy services that identify technical and institutional options for upgrading elevators, assess their feasibility — including cost estimates and other requirements – and make recommendations for a transaction to support the necessary investment.

At today’s workshop, ADB and the Consortium were delighted to host Armenian Government officials and stakeholders from the Municipality of Yerevan as well as other important stakeholders to discuss the findings and recommendations for the improvement of elevators in residential buildings in Yerevan. This was an opportunity for the Municipality, Government, ADB and the Consultant to discuss concrete options, financial and institutional issues, and other considerations that should inform a viable initiative to strengthen elevators and operations across the city.

The Consortium’s initial findings were presented at the First Stakeholders Workshop, held at the Municipality building on 7 February 2019. Following on from this, a Draft Final Report with a recommended transaction structure has now been produced and was presented at the Final Stakeholder Workshop today. The meeting also allowed for ADB and the Consortium to implement a participatory approach, as participants were given the opportunity to give feedback on the options presented, and to provide insights on the best approach to overcoming constraints. The conclusions of the workshop will be incorporated into the Consultants’ recommendations.

Project delivered in partnership with:

Tamara Babayan – ESF

Hamish McGlashan – TUV SUD


Asian Development Bank

contact person

Hulya Pasaogullari

Principal Consultant, Economics & Finance
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last updated

May 29, 2019