YEREVAN, April 2. / ARKA /. The Asian Development Bank (ADB) has invested a total of $133 million into Armenia’s private sector since 2005, Grigor Gyurjyan, an expert for ADB Armenia Resident Mission, said today.
According to him, in 2013 the bank’s investments amounted to about $25 million, which were channeled into the reconstruction of the Sevan-Hrazdan cascade of hydro power plants.
The cascade, located along the river Hrazdan is an important component of the national power grid. Its installed capacity is 565 MW. The cascade accounts for 10% of the electricity produced in the country and its water canals transport water for irrigation of some 70 % of the arable land.
Armenia joined the ADB in 2005 and is in the group of countries with mixed (subsidized and conventional) financing. -0-