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EBRD TO PROVIDE 7 MILLION EURO-LOAN TO ARMENIAN GOVERNMENT FOR IMPROVEMENT OF WASTEWATER MANAGEMENT SERVICES IN 5 MUNICIPALITIES
Noyan Tapan
Apr 26 2007
YEREVAN, APRIL 26, NOYAN TAPAN. The European Bank for Reconstruction
and Development (EBRD) will provide a 7 mln-euro loan to the Armenian
government for improvement of wastewater management services in
5 minicipalities located near Lake Sevan. The loan agreement was
signed on April 26 by the RA Minister of Finance and Economy Vardan
Khachatrian and the EBRD Business Group Director for Infrasructure
Alexander Auboeck.
According to V. Khachatrian, the loan will be given to Armenian
Water and Sewerage Company to finance three water treatment plants
and network rehabilitation in the municipalities of Gavar, Vardenis,
Martuni, Sevan and Jermuk. The loan is provided for 15 years (3-year
grace period) at the LIBOR+1% interest rate.
This will be the EBRD's first municipal and environmental
infrastructure project in Armenia. The loan of the bank is complemented
by a 5 mln-euro grant from the European Commission and the Early
Transition Countries Initiative Fund will provide technical cooperation
grants of 1.2 mln euros for implementation of support and advisory
services.
To date, the EBRD has invested almost 120 mln euros in more than 40
projects in Armenia.
Noyan Tapan
Apr 26 2007
YEREVAN, APRIL 26, NOYAN TAPAN. The European Bank for Reconstruction
and Development (EBRD) will provide a 7 mln-euro loan to the Armenian
government for improvement of wastewater management services in
5 minicipalities located near Lake Sevan. The loan agreement was
signed on April 26 by the RA Minister of Finance and Economy Vardan
Khachatrian and the EBRD Business Group Director for Infrasructure
Alexander Auboeck.
According to V. Khachatrian, the loan will be given to Armenian
Water and Sewerage Company to finance three water treatment plants
and network rehabilitation in the municipalities of Gavar, Vardenis,
Martuni, Sevan and Jermuk. The loan is provided for 15 years (3-year
grace period) at the LIBOR+1% interest rate.
This will be the EBRD's first municipal and environmental
infrastructure project in Armenia. The loan of the bank is complemented
by a 5 mln-euro grant from the European Commission and the Early
Transition Countries Initiative Fund will provide technical cooperation
grants of 1.2 mln euros for implementation of support and advisory
services.
To date, the EBRD has invested almost 120 mln euros in more than 40
projects in Armenia.