EBRD TO IMPLEMENT PROJECTS IN ENERGY SPHERE OF ARMENIA

YEREVAN, APRIL 5, NOYAN TAPAN. Prior to the creation of the restored
energy fund in Armenia, the European Bank of Reconstruction and
Development (EBRD) will implement sprecific projects in the country’s
energy sphere. The EBRD regional director Michael Dave stated at the
April 5 press conference that the bank will carry out work in this
direction together with businessmen and investors. It is envisaged
that the fund will start operating this year. Its capital will make
10-12 mln dollars, 50% of which will be invested by EBRD.