Interfax
April 5 2004
Germany to loan Armenia 4.7 mln euros for power station
Yerevan. (Interfax) – The German government is to allocate a 4.7
million euro loan to Armenia for an upgrade of the Alaverdi-2 power
station, from which electricity is delivered to Georgia.
German Ambassador to Armenia Hans Wulf Bartels and Armenian Finance
Minister Vardan Khachatrian signed the loan agreement on Monday.
The loan will be disbursed through KfW of Germany for 12 years at 5%
annually with a two-year grace period, Khachatrian said at a
briefing.
The upgrade will increase the reliability of the power station and
equip it with modern European equipment as well as increasing its
capacity, he said.