YEREVAN. - The World Bank loan will help Armenia’s energy companies, the statement of Armenia’s Energy Ministry reads.

Part of the financing gap in the system (22.4 bln AMD ($45.2), which had formed due to the non-payment on part of the Electric Networks of Armenia CJSC (ENA), was included in the energy tariffs endorsed on 1 August 2015 and is paid each month. The sum will be fully paid by 31 July 2016.

Together with this, to ensure regular operations, the companies had to attract commercial loans in 2013-15 and accumulate outstanding obligations, which are paid parallel with the debt repayment to the ENA, not being included in the tariff. 

These loans and part of the debt to “Gazprom Armenia” will be discharged at the expense of the World Bank loan.

Repayment of all these debts to state companies and Armenia’s energy system will be ensured in a manner prescribed by law and can’t be included in the tariff of the companies.