YEREVAN. - Armenian Minister of Finances Vache Gabrielyan and World Bank Regional Director for the South Caucasus Asad Alam signed Energy Supply Reliability credit agreement for $39 million loan.

The amount will be relent to BETS CJSC for strengthening electricity transmission network reliability and capacity purposes, Ministry of Finance press service informs Armenian News-NEWS.am.

Works on substitution of transmission lines linking Hrazdan thermal power plant and Shinuhayri substation are scheduled under electricity transmission network strengthening component. The second component will imply technical assistance.

The repayment period of the load is 25 years with ten years of concession, meaning that principal amount will not be repaid in this period.