The National Assembly of Armenia voted to ratify the “Municipal lighting project of Yerevan” loan agreement signed on May 11, 2015 between the Republic of Armenia and the European Bank for Reconstruction and Development (EBRD). “Armenpress” reports that 103 MPs voted for the agreement, 5 against and 6 MPs abstained.
According to the agreement, the European Bank for Reconstruction and Development will allocate a loan of 4 million USD to Armenia. Capital cost of the project forms $7 million out of which $3 million is funding. The aim of the program is to implement energysaving and safe outdoor lighting network in Yerevan. It is particularly planned to replace pillars in 28 streets, lay cables underground, use energysaving lamps, as well as to invest automated management system.
