The World Bank has provided Armenia with a $52 million loan that will be used for modernizing key electricity transmission facilities in the country.
According to World Bank officials in Yerevan, the Armenian government will contribute $17 million of its own funds to the project designed to "improve the reliability of the power transmission network and system management."
"This will allow avoiding increased incidence of power supply outages as well as associated significant social and economic costs," Laura Bailey, the bank's country manager for Armenia, told reporters on Tuesday.
Armenian News
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