INTERNATIONAL FINANCE CORP PROVIDES LOAN FOR SMALL HYDRO PROJECTS IN ARMENIA

HydroWorld
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Feb 24 2010

WASHINGTON, D.C., U.S. 2/24/10 (PennWell) — International Finance
Corporation, a member of the World Bank Group, has approved a
US$15 million loan to Armenian bank Ameriabank to help finance the
development of small hydropower projects in the country.

Most of the interest in development would include small hydro projects
between 2MW and 4MW in capacity, media reports indicate.

As well as the loan, IFC also will provide advisory services to help
Ameriabank assess and review projects, with a focus on environmental
and financial aspects, according to media reports.

Earlier this year, IFC provided the bank a US$5 million trade-finance
guarantee, allowing it to expand financing for the foreign trade
transactions of its clients throughout the country.