JAPANESE BANK OF INTERNATIONAL COOPERATION TO GIVE 15.9 BLN-YEN LOAN
TO ARMENIA

YEREVAN, MAY 26, NOYAN TAPAN. At the May 26 meeting, the RA National
Assembly ratified the contract between the Armenian and Japanese
governments on the Japanese loan for the purpose of increasing the
efforts aimed at the RA economic stabilization and development, and
the loan agreement for the project of the Yerevan Power-Generating
Unit with a Combined Steam and Gas Cycle. Based on this, the Japanese
bank will give the Armenian government a 15.9 bln-yen loan at a 0.75%
annual interest rate with the maturity of 40 years and a 10-year grace
period. The loan is provided for the construction of a steam and gas
power unit at the Yerevan Thermanl Power Station to produce electricity.
This, in particular, will allow to supply consumers with relatively
cheap electricity and maintain competition on the domestic market.