22/12/2009 13:32
IFC provides a $15 million loan to Armenia
IFC and Ameriabank have signed an agreement on providing Armenia with a $15 million loan for renewable energy programs. Armeniabank’s Board of Directors Chairman Artak Anesian said at the press conference that the bank’s commission had preliminarily approved 8 projects on hydro-electric power station’s building.
“The loan is repayable in 8 years, of these three years grace, with an annual interest rate of 10-12%. Now some other talks are held on providing 5-10 more million dollars,” he said.
Head of the IFC Caucasus Office Thomas Lubeck, in his part, said, that the programs’ implementation will contribute to reducing of the carbon dioxide emissions in Armenia, in particular, it will be decreased by 30 thousand tons annually.