Armenian government approves $40m energy transition loan agreement with World Bank

YEREVAN, September 12. /ARKA/. The Armenian government has approved a $40 million loan agreement with the International Bank for Reconstruction and Development (IBRD), a World Bank entity, to support the country’s energy transition program. The agreement, signed in August 2024, will finance the reconstruction of key substations, including Shamyan-2 (220/110/10 kV), Marash (220/110/10 kV), and Yeghegnadzor (220/110/35 kV).

The upgrades aim to modernize Armenia's energy infrastructure, introduce advanced technologies, and reduce the frequency and duration of outages caused by equipment failures, thereby enhancing the reliability and resilience of the national power system.

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13:20 09/12/2024