The Armenian government secured a 85.2 million euro (105.6 million USD) loan from Germany aimed at facilitating a new transmission line between the national power grids of Georgia and Armenia.
Germany’s KfW bank disbursed the loan through an agreement which was signed by one of its executives in Yerevan, along with Finance Minister Garik Khachatrian and the head of Armenia’s national electricity transmission network, Aram Ananian.
Armenian Ministry of Finance issued a statement saying a high-voltage line and a substation will be constructed on the Armenian-Georgian border. The funding was the first step at a long-term plan to help Armenian and Georgian power grids “operate in the same regime”, as noted in the statement.
The Armenian Ministry of Energy and Natural Resources has said that the two neighboring countries will be able to triple mutual electricity supplies once the new transmission line becomes fully operational in 2018.