IBRD to provide $40 million to Armenia for energy infrastructure modernization

Lawmakers are discussing the bill on ratifying the loan agreement between Armenia and the International Bank for Reconstruction and Development (IBRD). 

Under the agreement the IBRD will provide a 40 million USD loan to Armenia.

The agreement was signed in August 2024.

The goal of the project is the development of renewable energy by increasing its volumes and integration in the power supply grid, modernization of energy infrastructures to ensure reliability and stability and increasing the commercial vitality of the power supply company.

The Shahumyan-2, Marash and Yeghegnadzor substations will be reconstructed as part of the project.