YEREVAN. – Zhamanak daily has information that the European Bank for Reconstruction and Development (EBRD) has petitioned to the International Court of Arbitration, with a request that the Electric Networks of Armenia (ENA) Company repays ahead of schedule the US$45 million loan which the EBRD had provided it in 2009, the daily reported.

“That is, the EBRD has considered that the ENA is in such financial condition that it is very close to bankruptcy, and [therefore] it [i.e. the EBRD] is attempting to get back its money, not having hope that the ENA can fulfill its obligations in timely fashion,” wrote Zhamanak.