The Government Approved the Loan Agreement Aimed at Financial Rehabilitation of the Energy Sector

The Government of RA, at the session of May 12, approved the <Financial Recovery Plan of the Energy Sector>, for Reconstruction Loan Agreement signed with the International Bank of Reconstruction and Development.

 It is expected, that Armenia will receive a preferential loan of 30 million USD according to the Agreement.

The project aims to support the efforts of the saving of adequacy and reliability of electricity supply, by improving the financial condition of state power generating companies, which will also contribute the improvement of the financial position of the power distribution company.

Note, that the Board of Executive Directors of the World Bank adopted a decision on granting of the loan on 27 April.