World Bank gives Armenia grant and credit to support renewable energy project

Armenia Diaspora    Translate This Article
3 April 2006

On 3 April 2006 Armenia Diaspora reported: The World Bank has approved US$25.050 million in financial support to Armenia to help the country develop its renewable energy resources. The aid includes US$5 million International Development Association (IDA) credit and a US$3 million grant from the Global Environment Facility (GEF). Global Good News service views this news as a sign of rising positivity in the field of business, documenting the growth of life-supporting, evolutionary trends.

The government of Armenia will use the funds to assist the country's private industry develop and operate renewable energy plants, thus reducing the emission of greenhouse gasses and shift the current focus from pollutant-producing energy systems to natural, non-polluting ones.

Overall, Armenia is supportive of renewable energy. However, the systematization of renewable energy-producing plants in Armenia has been impeded by a series of 'legal, regulatory, informational, financial, and institutional barriers'. The purpose of the current funds is therefore twofold; while it aims to provide funds for the implementation of renewable energy plants, it will also help the industry overcome bureaucratic barriers.

By the time of completion the project is expected to provide an additional 80MW of renewable energy generation capacity, and carbon dioxide emissions are expected to be lowered by approximately 130,000 tons per year.

Every day Global Good News documents the rise of a better quality of life dawning in the world and highlights the need for introducing Natural Law based—Total Knowledge based—programmes to bring the support of Nature to every individual, raise the quality of life of every society, and create a lasting state of world peace.

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