WORLD BANK TO ALLOCATE 8 MLN USD FOR DEVELOPMENT OF RENEWABLE ENERGY IN ARMENIA

Noyan Tapan
Mar 29 2006

YEREVAN, MARCH 29, NOYAN TAPAN. Late March 29 the World Bank Board
of Directors is expected to approve a 8 mln-dollar program aimed
at the development of renewable energy in Armenia. NT correspondent
was indformed at the World Bank Yerevan Office that 5 mln USD will be
provided as a credit, while the remaining sum – as a grant. It was also
noted that the European Bank for Reconstruction and Development (EBRD)
envisages to provide 7 mln dollars, and the Cafesjian Foundation –
3 mln dollars for the purpose of developing Armenia’s renewable energy.