EBRD Board of Directors to Discuss Development Program of Reviving Power Engineering in Armenia

PanARMENIAN.Net - At its session February 21 the Board of Directors of the European Bank for Reconstruction and Development (EBRD) will discuss the program of development of the reviving power engineering in Armenia. The program totaling $15 million is aimed at creating alternative energy sources and reduction of dependence on energy resources supplied from abroad. The funding will be provided by the EBRD ($7 million), World Bank ($5 million) and Cascade-Credit Armenian credit organization ($3 million). In the opinion of EBRD specialists, the participation of Cascade-Credit in the project will promote interest of other private investors, reported Mediamax.