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WB TO IMPROVE ARMENIA'S ELECTRICITY EFFICIENCY
Vestnik Kavkaza
June 2 2011
Armenian Finance Minister Vache Gabriyelyan and Asad Alam, theregional
head of the Department for the South Caucasus Region ofEurope and
Central Asia of the World Bank, have signed an agreement onproviding
Armenia with a credit worth $39 million in Yerevan toimprove
electricity security, ARKA reports.
The sum will be used to improve the reliability of high-voltage
lines.The program includes replacement of power lines connecting the
Razdanthermal power plant with the Shinuayr subplant. The second part
of theprogram concerns technical support.
The credit was issued for 25 years, with the first 10 as a
beneficialperiod. The rate is a 6-month Libor + variable interest
margin. A 25%payout of the credit is included in the deal.
The Yerevan office head of the WB, Jean-Michel Happi, said that
thetotal credit sum is $52 million. $13 million will be provided
by thegovernment of Armenia. About 230 km of power lines, 45% of
theinfrastructure, will be replaced.
The state enterprise High-Voltage Electricity Lines is a
ringhigh-voltage line in Armenia with a power of 220/110/330 kW.
From: Baghdasarian
Vestnik Kavkaza
June 2 2011
Armenian Finance Minister Vache Gabriyelyan and Asad Alam, theregional
head of the Department for the South Caucasus Region ofEurope and
Central Asia of the World Bank, have signed an agreement onproviding
Armenia with a credit worth $39 million in Yerevan toimprove
electricity security, ARKA reports.
The sum will be used to improve the reliability of high-voltage
lines.The program includes replacement of power lines connecting the
Razdanthermal power plant with the Shinuayr subplant. The second part
of theprogram concerns technical support.
The credit was issued for 25 years, with the first 10 as a
beneficialperiod. The rate is a 6-month Libor + variable interest
margin. A 25%payout of the credit is included in the deal.
The Yerevan office head of the WB, Jean-Michel Happi, said that
thetotal credit sum is $52 million. $13 million will be provided
by thegovernment of Armenia. About 230 km of power lines, 45% of
theinfrastructure, will be replaced.
The state enterprise High-Voltage Electricity Lines is a
ringhigh-voltage line in Armenia with a power of 220/110/330 kW.
From: Baghdasarian