Armenia and Georgia to join power supply systems

Baku. 9 December. REPORT.AZ/ Finance Minister Gagik Khachatryan, director of the energy department of the bank KFW Jan Bloom and director of "High-voltage power supply" Aram Ananyan signed a loan agreement for the software and the beginning of the program "The Caucasian supply chain".

Report informs referring to Armenian media, KFW bank will provide Armenia with a loan of 85.2 mln euros for the first phase of the program "Caucasus energy network".The program provides to connect energy systems of Armenia and Georgia by transformer station in Ayrum. Due to construction in the framework of a new substation and electrical wires, Armenia and Georgia will work in the same mode, which will provide an opportunity: to import in case of lack of electricity, and to export in case of excess.

The total cost of the first phase of the program amounts to 105.2 mln euros.The first phase of the program will be financed by the European Investment Bank - 10 mln euros credit funds, as well as the EU Neighbourhood Investment will be given a grant of 10 mln euros.