ARMENIAN ENTERPRISES CAN REDUCE ENERGY COSTS BY 15% THROUGH BETTER ENERGY EFFICIENCY

ARKA
September 10, 2009
Yerevan

YEREVAN, September 10. /ARKA/. Armenian enterprises can reduce
their energy costs by 15% through better energy efficiency measures,
IFC consulting services supervision expert for ecology and social
stability in Europe and Central Asia Brian Tite said.

This conclusion was drawn as result of IFC studies, she said in
making report about energy efficiency as a new resource of sustainable
development.

The study was carried out among leaders of 100 Armenian enterprises
in summer 2008.

Armenia is ahead of similar countries in terms of energy savings,
but the country still has room for development, Tite said.

According to study results, Armenian enterprises will make improvements
to increase energy saving if the required funds are available. These
funds can be provided by investment and financial organizations for
15% reduction in energy costs.

Armenia became a member of International Financial Corporation (IFC)
in 1995. The Corporation started implementing investments in Armenia
in 2000.

Apart from investments, IFC is implementing technical assistance
projects to improve corporate management and investment climate and
to develop small and medium business.