YEREVAN. – Armenia will get $52 million from the World Bank to improve the reliability of the power transmission network.

The draft agreement was presented in the parliament by Deputy Energy Minister Areg Galstyan.

The amount will be provided through International Bank For Reconstruction And Development with 14.5-year grace period and the total repayment term of 25 years. The Armenian government will allocate $17.6 million.

The project suggests rehabilitation of Ashnak substation of High Voltage Electric Networks (HVEN) and rehabilitation of Yerevan Thermal Power Center (YTPC’s) substation. 

The project will finance the establishment of a back-up dispatch center, which will contribute to improvement of the power system management.