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EDB to Provide $100 million to Electric Networks of Armenia

Today, on October 31, within the framework of the 12th international conference "Eurasian Integration" organized by the Eurasian Development Bank, the Memorandum of cooperation between the Eurasian Development Bank and CJSC "Electric Networks of Armenia" was signed. From the Armenian side, the document was signed by Karen Darbinian ("Tashir" Group) and Karen Harutyunyan (General Director of CJSC "Electric Networks of Armenia"), and from the EDB's side - the Deputy Chairman of the EDB Board Konstantin Limitovsky.

EDB is considering the possibility of allocating a loan to CJSC "Electric Networks of Armenia" of up to $100 million for a period of up to 10 years.

Investments in the framework of the project will be directed to the reconstruction and construction of new distribution networks and substations of the company, connection of new consumers to the network, replacement and installation of electricity meters, the introduction of an automated commercial electricity metering system, the introduction of an automated management system and international management standards.

 

 


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