The World Bank Board of Executive Directors has approved a US$52 million loan for the Electricity Transmission Network Improvement Project for Armenia.
According to a press release, the new project will improve the reliability of the power transmission network and system management, and support the Government’s efforts in ensuring adequate electricity supply across Armenia.
“Currently the power sector of Armenia faces a number of challenges, including supply adequacy and reliability. The project focused on rehabilitation of the selected substations will improve power system reliability, and bring direct benefits to all power consumers in Armenia,” said Laura E. Bailey, World Bank Country Manager for Armenia.
“This will allow avoiding increased incidence of power supply outages, as well as associated significant social and economic costs,” she added.