The Russia Journal

EBRD to invest USD 100 million in Armenian energy sector

WORLD/CIS » :: May 06, 2004 Posted: 16:16 Moscow time (12:16 GMT)

YEREVAN – The European Bank for Reconstruction and Development (EBRD) is set
to invest USD 100 million in the Armenian energy sector, according to the
head of the Armenian Central Bank, Tigran Sarkisian. As reported by a
Rosbalt correspondent, Sarkisian told a press conference that the funds
would be used to construct small and media hydroelectric power stations in
Armenia.

Sarkisian noted that cooperation with the bank would continue to develop. In
particular, he said, the bank intends opening a branch in Armenia. /Rosbalt/