YEREVAN. – The National Assembly of Armenia on Friday ratified the “Power Sector Financial Recovery Program” loan agreement, which the country and the International Bank for Reconstruction and Development (IBRD) had signed in May.

The document was ratified by a vote of 70 for and 32 against.

US$30-million loan will be provided under this agreement. A part of this loan will be allocated to the Armenian Nuclear Power Plant, to assist in the efforts to maintain an adequate and reliable supply of electricity, in order to improve the financial situation of the power-generating state-run companies and of the private power-distribution company of Armenia.