Armenian Minister of Finance Vache Gabrielyan and Asad Alam, World Bank Regional Director for the South Caucasus Countries, signed a #39mln loan agreement on June 1 for the Program of Reliability of Electric Energy Supply.

The loan is provided for a 25-year term, with 10 years of grace period. According to the press service of the Armenian Ministry of Finance, the amount will be provided to High Voltage Electric Networks CJSC as a sub-loan to implement measures aimed at improving reliability of the transmission network and increasing its capacity.

A component of the program envisages substitution of the transmission line connecting Hrazdan Thermal Power Plan with Shinuayr substation, while another part refers to technical assistance.