WB BOARD CONFIRMED PROGRAM OF DEVELOPMENT OF RENEWABLE ENERGY IN ARMENIA

Lragir.am
30 March 06

The board of directors of the World Bank confirmed in Washington the
program of development of renewable energy in Armenia, which costs 8
million dollars. According to the news agency ARKA, this was stated by
Roger Robinson, the director of the WB office in Yerevan, during the
news conference on March 30. Roger Robinson said the program will be
funded by a 3 million dollar grant of the Global Energy Foundation
and an IDA loan of 5 million dollars for 40 years, on 0.75 per
cent interest and a grace period of 10 years. Roger Robinson said
the European Bank for Reconstruction and Development will provide
7 million dollars, and the Gafeschyan Foundation will allocate 3
million dollars for the program of renewable energy in Armenia. The
WB representative in Armenia said the program must be confirmed by
the government and ratified by the National Assembly of Armenia.

It is estimated to create an additional 80 megawatt capacity of
renewable energy in Armenia within the upcoming 5 years.

From: Emil Lazarian | Ararat NewsPress