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ARMENIA AND WORLD BANK SIGN TWO LOAN AGREEMENTS WORTH $82 MILLION
YEREVAN, April 8. / ARKA /. Armenian Finance Minister Gagik Khachatryan
and World Bank Country Manager for Armenia Laura Bailey signed on
Wednesday a credit agreement whereby the International Bank for
Reconstruction and Development (IBRD) will provide the Armenian
government with a $52 million loan for the Electricity Transmission
Network Improvement Project for Armenia (ETNIP).
The new project will improve the reliability of the power transmission
network and system management, and support the government's efforts
in ensuring adequate electricity supply across the country. Total
financing of the project is $69.16 million, of which $17.16 million
will be the government's contribution.
The World Bank will provide the $52 million IBRD loan of variable
spread with a 14.5-year grace period and the total repayment term of
25 years, according to the report.
The Ministry of Finance said the IBRD will provide the government
with another $30 million loan for the Social Investment and Local
Development (SILD) Project in Armenia.
This project will further assist the government of Armenia to improve
the quality, use of and access to community infrastructure for the
poor and vulnerable groups. The loan is repayable in 25 years with
a 14.5 -year grace period.-0-
http://arka.am/en/news/economy/armenia_and_world_bank_sign_two_loan_agreements_wo rth_82_million/#sthash.wf6lJ1JO.dpuf
From: Baghdasarian
YEREVAN, April 8. / ARKA /. Armenian Finance Minister Gagik Khachatryan
and World Bank Country Manager for Armenia Laura Bailey signed on
Wednesday a credit agreement whereby the International Bank for
Reconstruction and Development (IBRD) will provide the Armenian
government with a $52 million loan for the Electricity Transmission
Network Improvement Project for Armenia (ETNIP).
The new project will improve the reliability of the power transmission
network and system management, and support the government's efforts
in ensuring adequate electricity supply across the country. Total
financing of the project is $69.16 million, of which $17.16 million
will be the government's contribution.
The World Bank will provide the $52 million IBRD loan of variable
spread with a 14.5-year grace period and the total repayment term of
25 years, according to the report.
The Ministry of Finance said the IBRD will provide the government
with another $30 million loan for the Social Investment and Local
Development (SILD) Project in Armenia.
This project will further assist the government of Armenia to improve
the quality, use of and access to community infrastructure for the
poor and vulnerable groups. The loan is repayable in 25 years with
a 14.5 -year grace period.-0-
http://arka.am/en/news/economy/armenia_and_world_bank_sign_two_loan_agreements_wo rth_82_million/#sthash.wf6lJ1JO.dpuf
From: Baghdasarian