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EBRD SUPPORTS WATER SUPPLY IMPROVEMENTS IN YEREVAN ALLOCATING EURO 5.4- MILLION LOAN
YEREVAN, July 19./ARKA/. The European Bank for Reconstruction and
Development (EBRD) is providing a sovereign loan equivalent of [email protected]
million to the Republic of Armenia, to be used to improve the water
supply for the 1.1 million people living in Yerevan, the capital of
Armenia, the bank reported Friday.
The project will be implemented by Yerevan Djur CJSC, the operator
of the water system in Yerevan, and will support improvements
to the city's water network by improving the water availability
and reducing the water losses. Yerevan Djur CJSC is fully owned by
Veolia Environment SA of France, the world's largest supplier of water
services, with water operations in 66 countries and strong expertise
in water and waste water services.
The funds will be used to rehabilitate severely deteriorated sections
of the water distribution network, replacing water supply network
pipes, as well as installing new water meters for households. The
investments will reduce water losses, as well as operational costs,
while improving the reliability of 24 hour services in all the targeted
districts and water tariff collection.
In addition to EBRD financing, the European Investment Bank (EIB)
is considering a loan equivalent of [email protected] million and the European
Union (EU), through its Neighborhood Investment Facility (NIF),
will provide grant funds of [email protected] million.
The preparation of the project has been supported by a ~@200,000
pre-investment Technical Cooperation (TC) grant from the Government of
the Czech Republic. Project implementation support TC grant financing
will be provided by the EBRD Water Fund (~@200,000) and the ETC Fund
(~@200,000).
"This project is important for the city of Yerevan. Reliable water
supply is a fundamental need for households." says Suma Chakrabarti,
EBRD President, who signed the loan agreement in Yerevan on 19
July 2013.
The EBRD has been active in Armenia since the country's independence
and to-date has invested over ~@656 million through about
120 transactions. Investing in the rehabilitation of municipal
infrastructure is one of the EBRD's key priorities in Armenia. In
2012, the EBRD signed 15 projects worth a total of ~@94 million
in Armenia.-0-
- See more at:
http://arka.am/en/news/economy/ebrd_supports_water_supply_improvements_in_yerevan _allocating_5_4_million_loan/#sthash.oEquxvit.dpuf
YEREVAN, July 19./ARKA/. The European Bank for Reconstruction and
Development (EBRD) is providing a sovereign loan equivalent of [email protected]
million to the Republic of Armenia, to be used to improve the water
supply for the 1.1 million people living in Yerevan, the capital of
Armenia, the bank reported Friday.
The project will be implemented by Yerevan Djur CJSC, the operator
of the water system in Yerevan, and will support improvements
to the city's water network by improving the water availability
and reducing the water losses. Yerevan Djur CJSC is fully owned by
Veolia Environment SA of France, the world's largest supplier of water
services, with water operations in 66 countries and strong expertise
in water and waste water services.
The funds will be used to rehabilitate severely deteriorated sections
of the water distribution network, replacing water supply network
pipes, as well as installing new water meters for households. The
investments will reduce water losses, as well as operational costs,
while improving the reliability of 24 hour services in all the targeted
districts and water tariff collection.
In addition to EBRD financing, the European Investment Bank (EIB)
is considering a loan equivalent of [email protected] million and the European
Union (EU), through its Neighborhood Investment Facility (NIF),
will provide grant funds of [email protected] million.
The preparation of the project has been supported by a ~@200,000
pre-investment Technical Cooperation (TC) grant from the Government of
the Czech Republic. Project implementation support TC grant financing
will be provided by the EBRD Water Fund (~@200,000) and the ETC Fund
(~@200,000).
"This project is important for the city of Yerevan. Reliable water
supply is a fundamental need for households." says Suma Chakrabarti,
EBRD President, who signed the loan agreement in Yerevan on 19
July 2013.
The EBRD has been active in Armenia since the country's independence
and to-date has invested over ~@656 million through about
120 transactions. Investing in the rehabilitation of municipal
infrastructure is one of the EBRD's key priorities in Armenia. In
2012, the EBRD signed 15 projects worth a total of ~@94 million
in Armenia.-0-
- See more at:
http://arka.am/en/news/economy/ebrd_supports_water_supply_improvements_in_yerevan _allocating_5_4_million_loan/#sthash.oEquxvit.dpuf