Armenia secured on Tuesday a $150 million loan from the government of Japan to build a modern thermal power plant
Published:
31 March 2005 y., Thursday
Armenia secured on Tuesday a $150 million loan from the government of Japan to build a modern thermal power plant which officials said will considerably lower the average cost of power generation in the resource-poor country.
An agreement on the launch of the project was signed in Yerevan by Energy Minister Armen Movsisian and representatives of the Japan Bank for International Cooperation (JBIC). “This will be a very serious boost to our energy sector,” Movsisian said at the official ceremony.
“The Project is aimed at enhancing the power supply capacity of Armenia, thereby easing possible power shortages in the future and serving to develop the foundation supporting the economic growth of the country,” JBIC said in a separate statement.
The Japanese loan, repayable in 40 years, is to be used to finance the purchase of machinery and equipment, construction work and consulting services. The entire process will be overseen and supervised by JBIC. Tetsuo Ito, a senior official from the Japanese embassy in Moscow, said this will ensure that the implementation of the project is “free of corruption.”
Šaltinis:
bakutoday.net
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people.
more »
Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment.
more »
The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn.
more »
The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country.
more »
The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF).
more »
Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU.
more »
Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday.
more »
Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date.
more »
75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU.
more »
The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia.
more »