YEREVAN. – Armenia has approved the European Investment Bank (EIB) loan for building an electric power transmission line toward Georgia. 

The National Assembly on Friday ratified the respective loan agreement, and by a vote of 91 for, 2 against, and 12 abstentions.

Accordingly, €10 million will be provided to the Caucasus Transmission Network project.  

Within the framework of this €105-million project, a new Armenia-Georgia electric power transmission line is planned to be build, and this line will increase by nearly three times the electricity flow capacity of the energy systems already existing between the two countries.