11.05.2015 20:59
YEREVAN, May 11. / ARKA /. The European Bank for Reconstruction and Development (EBRD) is providing $4 million for a pilot project which will enable Yerevan, the capital of Armenia, to modernize its street lighting system by introducing new energy-efficient technologies.
An agreement to that end was signed today in Yerevan by Armenian Minister of Finance Gagik Khachatryan and head of EBRD Suma Chakrabati.
The EBRD’s sovereign loan will be on-lent to the Street Lighting Company owned by the city of Yerevan. The loan is expected to be complemented by a capital grant of up to $2 million from the Eastern Europe Energy Efficiency and Environment Partnership (E5P). Technical cooperation for project preparation was financed by the TaiwanBusiness-EBRD Technical Cooperation Fund and the EBRD’s own resources.
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