International institutions have lately taken more interest in some aspects of Armenia’s energy policy, particularly renewable energy and energy saving. On November 10, the European Bank for Reconstruction and Development (EBRD) announced the launch of a U.S. $25 million.

However, such credit programs do not ensure any essential progress in the field. The commercial credits are issued at an annual interest rate of 11-12 per cent. Banks demand flats in the Yerevan center as mortgage. The terms of the 5-year program are not essentially different from the market effect. Economic entities wishing to construct small hydro-power plants and implement serious energy-saving measures apply to banks as a last resort. They prefer “wealthy” partners.