13:15, May 11, 2015
Armenia today signed a loan agreement with the European Bank for Reconstruction and Development (ERBD) for a pilot program designed to update Yerevan's street lights.
The ERBD will provide $4 million to modernize Yerevan's street lighting system by introducing new energy-efficient technologies.
The EBRD's sovereign loan will be on-lent to the Street Lighting Company owned by the city of Yerevan. The loan is expected to be complemented by a capital grant of up to $2 million from the Eastern Europe Energy Efficiency and Environment Partnership (E5P). Technical cooperation for project preparation was financed by the TaiwanBusiness-EBRD Technical Cooperation Fund and the EBRD's own resources.
Armenian News
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