The European Bank for Reconstruction and Development (EBRD) stands ready to invest hundreds of millions of US dollars in Armenia’s power grid, Bruno Balvanera, EBRD Regional Director told Armenian journalists. According to him, the bank is considering the possibility of investing in the construction of hydroelectric power stations, solar power plants and high voltage power lines.
“In Armenia, there is a fairly large range of activity in the energy sector, which we consider quite promising. It is too early to talk about concrete projects, but we are conducting negotiations that we do not want to announce in advance,” Balvanera said, adding that EBRD does not impose restrictions on the financing of projects.
As a result of the anticipated cooperation, the losses are supposed to be cut by 4.6% to achieve the international standard of 6.4%. repair expenses are supposed to be halved. As of the beginning of September this year, the package of bilateral cooperation between Armenia and the EBRD included 158 programs for about 1.1 billion euros.