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EBRD HELPS MODERNISE WATER SYSTEMS IN ARMENIAN MUNICIPALITIES
Economic News (Information Agency Oreanda)
July 21, 2011 Thursday
Russia
Yerevan . OREANDA-NEWS . July 21, 2011. The European Bank for
Reconstruction and Development (EBRD) is lending EUR 6.5 million as
a sovereign loan to the Republic of Armenia to improve water supply
and wastewater services in 17 municipalities across Armenia, reported
the press-centre of EBRD.
The funds will be on-lent to the state-owned Armenian Water and
Sewerage Company (AWSC) to finance the rehabilitation of water and
wastewater networks. In addition, the company will complete the
construction of two wastewater treatment plants.
The project will significantly reduce water leakages and improve
drinking water availability for approximately 300,000 residents.
In addition to the EBRDs funding, the European Union Neighbourhood
Investment Facility will provide a EUR 7 million grant to implement
further capital invetments.
The project will further receive up to EUR 2 million in technical
cooperation grants from several donors. The Canadian Government has
contributed EUR 200,000 to assist AWSC in preparing an investment
programme. The remaining grant funds are contributed from the EBRDs
Neighbourhood Investment Facility, the Shareholders Special Fund and
the ETC Fund.
These funds will be used to assist AWSC with the development of a
programme for commercialisation and organisational improvements
of the company, as well as to support the implementation of the
investment programme.
This will be the EBRDs second project in the Armenian water sector.
Since the beginning of its operations in Armenia in 1992, the EBRD
has invested over EUR 400 million in 100 projects in the countrys
financial, corporate and energy sectors, and infrastructure, with 96
per cent of the projects being investments into the development of
the private sector.
Economic News (Information Agency Oreanda)
July 21, 2011 Thursday
Russia
Yerevan . OREANDA-NEWS . July 21, 2011. The European Bank for
Reconstruction and Development (EBRD) is lending EUR 6.5 million as
a sovereign loan to the Republic of Armenia to improve water supply
and wastewater services in 17 municipalities across Armenia, reported
the press-centre of EBRD.
The funds will be on-lent to the state-owned Armenian Water and
Sewerage Company (AWSC) to finance the rehabilitation of water and
wastewater networks. In addition, the company will complete the
construction of two wastewater treatment plants.
The project will significantly reduce water leakages and improve
drinking water availability for approximately 300,000 residents.
In addition to the EBRDs funding, the European Union Neighbourhood
Investment Facility will provide a EUR 7 million grant to implement
further capital invetments.
The project will further receive up to EUR 2 million in technical
cooperation grants from several donors. The Canadian Government has
contributed EUR 200,000 to assist AWSC in preparing an investment
programme. The remaining grant funds are contributed from the EBRDs
Neighbourhood Investment Facility, the Shareholders Special Fund and
the ETC Fund.
These funds will be used to assist AWSC with the development of a
programme for commercialisation and organisational improvements
of the company, as well as to support the implementation of the
investment programme.
This will be the EBRDs second project in the Armenian water sector.
Since the beginning of its operations in Armenia in 1992, the EBRD
has invested over EUR 400 million in 100 projects in the countrys
financial, corporate and energy sectors, and infrastructure, with 96
per cent of the projects being investments into the development of
the private sector.