  ERBD to extend $4M loan to modernize Yerevan’s street lighting May 11, 2015 - 17:23 AMT PanARMENIAN.Net - Armenia signed Monday, May 11, a loan agreement with the European Bank for Reconstruction and Development (ERBD) for a pilot program designed to update Yerevan’s street lights, Hetq.am reports. The ERBD will provide $4 million to modernize Yerevan’s street lighting system by introducing new energy-efficient technologies. 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 Taiwan Business-EBRD Technical Cooperation Fund and the EBRD’s own resources. The pilot project will introduce new energy-efficient LED lighting, a control and monitoring system, pole replacement and renovation, as well as power cable replacement. This will result in better service quality and improved environmental standards due to reduced energy consumption and the minimization of operating and maintenance costs. Lighter streets will also be safer for pedestrians and motorists alike.  Top stories The number of state universities will be reduced from 23 to 8 by 2030, Minister of Education, Science, Culture and Sport Zhanna Andreasyan has said. From September 21 to November 11, a total of 2,820 Russians registered at a place of residence in Armenia, the police has said. The situation on the contact line between Karabakh and Azerbaijan was relatively stable overnight, the Defense Army says. Defense Minister Suren Papikyan has visited the southern Armenian province of Syunik, the Defense Ministry reported on March 18.   Partner news |  Latest news U.S. welcomes efforts to define Armenia-Azerbaijan border  The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel.Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide.Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says.CSTO recognizes Armenia’s sovereign right to withdraw Tasmagambetov has said that if Armenia decides to leave the organization, “it will be the sovereign right of Armenia.” |
