Asian Development Bank to allocate $30 million loan to energy sphere of Armenia

YEREVAN, SEPTEMBER 5, ARMENPRESS: The repairing of “Agarak-2” and “Shinuhayr” energy substations will be funded by the Asian Development Bank. The Republicof ArmeniaMinistry of Energy and Natural Resources and the Asian Development Bank (ADB) signed “ Power Transmission Rehabilitation Project” loan agreement, which intends allocation of $37 million loan to Armenia.

Minister of Energy and Natural Resources of Armenia Yervand Zakharyan said that within the framework of the project SCADA control systems are intended to expand as well.

Implementation of the loan project will improve reliability and efficient power supply in Armenia, as well as will contribute to mutually profitable regional cooperation, the Minister said, Armenpress reports.