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Under the Armenia Enabling the Energy Transition Program L oan A greement between the Republic of Armenia and the International Bank for Reconstruction and Development (IBRD) , the Bank agrees to provide the Republic of Armenia with a loan of $40,000,000 for the implementation of the Armenia Energy Transition Program. The RA Deputy Minister of Territorial Administration and Infrastructure Kristine Ghalechyan said this during the sitting convened on January 13, presenting the draft law On Ratifying the Armenia Enabling Energy Transition Program Loan Agreement between the Republic of Armenia and the International Bank for Reconstruction and Development.

According to the keynote speaker, the goals of the project are to increase the renewable energy capacity of Armenia, ensure its integration into the electricity transmission grid, and expand the commercial viability of the electricity transmission company. The project aims to strengthen the electricity transmission infrastructure of Armenia, its capacities, and increase the volume of renewable energy.

Kristine Ghalechyan noted that the Agreement envisages, particularly, the reconstruction and modernization of the Shahumyan 2, Marash and Yeghegnadzor 220 kV substations. She underscored that the abovementioned substations were built in 1964, 1978 and 1966, and during these years there have been very little investments, and they have problem of reconstruction.

The draft was endorsed.

The Committee debated in the second reading and also endorsed the draft law on Making Amendments and Addenda to the law on Investment Funds with an attached legislative package.