The International Bank for Reconstruction and Development (IBRD)  will provide Armenia with a $40 million loan to modernize the country's energy infrastructure. This was announced by the Deputy Minister of Territorial Administration and Infrastructure, Kristine Ghalechyan, at the session of the National Assembly on Wednesday, during the debates of the ratification of the Armenia Enabling the Energy Transition Program loan agreement.

According to Ghalechyan, the aforesaid agreement between Armenia and the IBRD was signed in August 2024.

The objective of this program is to develop renewable energy in Armenia by expanding its amount and integrating it into the country’s power grid, modernizing the energy infrastructure, ensuring its reliability and stability, and increasing the commercial viability of the electricity transmission company of Armenia.

The respective reconstruction is planned to be completed by 2028.

The repayment period of the aforesaid loan is 25 years, 15 of which are preferential.