IFT – During the signing of an agreement to provide credit worth $8.4 million for an electricity transfer project currently underway in Armenia’s Siunik province, the Export Development Bank of Iran (EDBI) and the Export Guarantee Fund announced another loan worth $20 million to Armenia.
EDBI’s Managing Director, Nowrouz Kohzadi and Armenia’s Deputy Energy Minister and Managing Director of Energo Company, Youssef Issayian, signed the loan contract in Yerevan on 16 October.
During the signing of the agreement, which was attended also by Armenia’s Minister of Energy Armen Movsisyan and Iranian Ambassador to Armenia, Mohammad Farhad Koleini, it was announced that Iran’s Sanir Company and Armenia’s Energo Company are involved in the electricity project.
The project, once completed, is expected to double the current amount of electricity being traded by the two countries, reaching 500 megawatts.
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