$52-million IBRD loan agreement put on Armenian National Assembly's floor today

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22.06.2015, 19:25

The National Assembly of Armenia embarked today on discussion of a $52-million loan to be taken from the International Bank for Reconstruction and Development to improve electricity supply infrastructures, as the government says.

$52-million IBRD loan agreement put on Armenian National Assembly's floor today

YEREVAN, June 22. /ARKA/. The National Assembly of Armenia embarked today on discussion of a $52-million loan to be taken from the International Bank for Reconstruction and Development to improve electricity supply infrastructures, as the government says.

The loan agreement was signed by Armenian Finance Minister Gagik Khachatryan and World Bank Country Manager in Armenia Laura E. Bailey on April 8.

The money is lent for substantial repair and reconstruction of Ashnak substation and Yerevan Thermal Power Plant and for enhancing reliability of electricity supply facilities.

The loan will be provided by the International Bank for Reconstruction and Development for 25 years with a 14.5-year grace period. ---0----

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