NA RATIFIES AN AGREEMENT BETWEEN ARMENIA AND THE WORLD BANK

ArmRadio.am
14.06.2006 13:48

RA National Assembly ratified the agreement between Armenia and
the World Bank on providing loans for renewable energy development
in Armenia.

Deputy Minister of Energy Areg Galstyan informed the MPs that the
agreement was signed on April 7, 2006.

The agreement envisages provision of US$5 million loan to Armenia,
which will be spent on renewable energy development. With the same
objective the World Bank will provide a US$3 million grant with 40
years maturity and a 0.25 interest rate.