ArmenPress
March 29 2005
JAPAN TO GIVE $150 MILLION CREDIT FOR UPGRADING THERMAL POWER PLANT
AND $2 MILLION HEALTH GRANT
YEREVAN, MARCH 29, ARMENPRESS: The government of Japan will issue
a $150 million privileged loan to the government of Armenia which it
wants to modernize the Yerevan Thermal Power Plant. The agreement to
this effect was signed today in Yerevan by Armenian energy minister
Armen Movsisian and Tetsuo Ito, a senior official of the Japanese
embassy in Armenia.
Speaking afterwards to reporters Tetsuo Ito said the credit will
help Armenia to enhance its energy generating facilities which in
turn will boost economic development.
He also said the agreement will promote further development of
Armenian-Japanese cooperation.
The government of Japan has pledged also a $2 aid to Armenian
health ministry to help it improve delivering of services to newly
born babies and their mothers. The agreement was signed today in
Yerevan by Armenian health minister Norayr Davidian and Tetsuto Ito.
Davidian said the Japanese grant will be instrumental in shifting
the attention from the capital city Yerevan to Armenian regions, to
supply new equipment to hospitals and clinics and improve the quality
of training programs designed for medical personnel.
He said this will be the third joint program implemented in
concert with Japan. The previous two programs, costing $8 million,
were used to establish a state-of- the- art diagnostic center at
Armenian Medical Center and upgrade hospitals in Abovyan and Yerevan.