YEREVAN. – Armenia is going to receive $3 million from the European Bank for Reconstruction and Development (EBRD) to provide preferential loans for solar water heaters and geothermal pumps.
Armenia Renewable Resources and Energy Efficiency Fund Director Tamara Babayan told the aforesaid to Armenian News-NEWS.am.
In her words, loans are already provided to consumers and the businesses by way of the EBRD-funded Energocredit program. But one of the fund’s objectives is to more strongly promote the abovementioned two types of alternative energy.
“We want for these loans to be more lenient, either in terms of interest rate or terms,” Babayan explained.
The project funding has been approved, and it can start to be implemented within several months.
