YEREVAN. – Armenia may save around $280 million per year on energy conservation, World Bank energy expert Artur Kolchnakyan told reporters on Tuesday.

He recalled that the activities on reducing energy losses in around 20 state building were carried out within Electricity Transmission Network Improvement Project that led to 40-50 percent decline in energy consumption.

“The results are excellent,” WB expert emphasized.

Newly introduced project suggests that the owners of buildings ensure repayment of the credit at the expense of saved energy.