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Asian Development Bank approves $37 million loan for Armenia
YEREVAN, August 1. / ARKA /. The Asian Development Bank (ADB) has
approved a $37 million loan for Armenia to help it rehabiliate its
electricity transmission system. The loan will be granted from ADB's
special concessional fund.
"The loan is designed to help Armenia make a major overhaul of its
electricity transmission system inherited from the Soviet era,
including the expansion of the management and sharing of data and
modernization of two high-voltage substations," the Manila-based bank
said in a statement.
The project is supposed to reduce losses in transmission lines, to
increase the capacity of substations and improve the quality and
reliability of power supply in urban and rural communities, which, in
turn, is beneficial in both economic and social aspects.
The aim of the ADB is to reduce poverty in Asia and the Far East
through the inclusive growth of the economy, sustainable development
and regional integration.
ADB, created in 1966, includes 67 states. In 2013, ADB assistance
totaled $21 billion, including co-financing of $6.6 billion.-0-
- See more at: http://arka.am/en/news/economy/asian_development_bank_approves_37_million_loan_fo r_armenia_/#sthash.XSAtWaP0.dpuf
From: A. Papazian
YEREVAN, August 1. / ARKA /. The Asian Development Bank (ADB) has
approved a $37 million loan for Armenia to help it rehabiliate its
electricity transmission system. The loan will be granted from ADB's
special concessional fund.
"The loan is designed to help Armenia make a major overhaul of its
electricity transmission system inherited from the Soviet era,
including the expansion of the management and sharing of data and
modernization of two high-voltage substations," the Manila-based bank
said in a statement.
The project is supposed to reduce losses in transmission lines, to
increase the capacity of substations and improve the quality and
reliability of power supply in urban and rural communities, which, in
turn, is beneficial in both economic and social aspects.
The aim of the ADB is to reduce poverty in Asia and the Far East
through the inclusive growth of the economy, sustainable development
and regional integration.
ADB, created in 1966, includes 67 states. In 2013, ADB assistance
totaled $21 billion, including co-financing of $6.6 billion.-0-
- See more at: http://arka.am/en/news/economy/asian_development_bank_approves_37_million_loan_fo r_armenia_/#sthash.XSAtWaP0.dpuf
From: A. Papazian