ADB approves $80 mln loan to help improve energy efficiency in ArmeniaJuly 3, 2017 - 12:08 AMT PanARMENIAN.Net - The Asian Development Bank (ADB) has approved an $80 million loan to Electric Networks of Armenia CJSC (ENA) on 27 June 2017 to help improve electricity distribution and increase energy independence and efficiency in Armenia. “A more efficient and reliable energy distribution network is important for economic growth in Armenia”, - said Sonali Tang, Senior Investment Specialist at ADB’s Private Sector Operations Department. “The investment program will contribute to the Government of Armenia’s goal of energy independence and energy efficiency. Our partnership with ENA will have a meaningful impact on Armenian people and businesses by improving the reliability of electricity distribution through the proposed investment program.” The investment will help ENA improve private sector electricity distribution in Armenia by reducing distribution losses from around 10% in 2016 to around 8% by 2021. ADB support will allow ENA to improve the quality of the distribution network and services of its multi-site operations across the country, reduce electricity losses and operational expenses, improving technical maintenance and safety conditions, modernizing the metering system, rehabilitating, reinforcing, and augmenting the distribution network, connecting new customers and introducing international standards of management and automated control system. ENA, a closed joint stock company founded in 2002 following the privatization and merger of four state-owned regional electricity distribution companies, is the licensed distributor of electricity and serves customers Armenia. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. |