RENEWABLE ENERGY PROJECT SIGNED

Lragir.am
07 April 06

On April 7 Minister of Finance and Economy of Armenia Vardan
Khachatryan and Roger Robinson, the head of the Yerevan office of the
World Bank, signed the Renewable Energy Project, confirmed by the
World Bank.

The total funds of the program are 8 million U.S. dollars, including
the 5 million dollar loan of USAID and the 3 million dollar grant of
the Global Environmental Foundation. The program will be co-funded by
the European Bank for Reconstruction and Development with 7 million
U.S. dollars and Gafeschyan Foundation with 3 million U.S. dollars.

The conditions of USAID are the same: due for repayment in 40 years
and a grace period of 10 years.