World Bank to assign $1.5 million for geothermal energy project implementation

PanARMENIAN.Net - Armenian Prime Minister Tigran Sargsyan presided Wednesday over the meeting of board of trustees of the Armenian renewable energy and energy saving fund, which aims to attract investments and facilitate development of the fields.



Briefing on the achievements of the fund, director Tamara Babayan said that the programs launched in 2006, specifically the WB-sponsored urban heating project, were continued in 2008



She also announced completion of preparation works for development of geothermal program and short-term measures for its implementation.



She informed that the Armenian government and the World Bank sealed an agreement on a $1.5 loan to supplement $300 thousand (17% of the total sum) to be assigned from the state budget.