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WB To Improve Armenia's Electricity Efficiency

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  • WB To Improve Armenia's Electricity Efficiency

    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
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