The Asian Development Bank (ADB) has approved USD 80m loan to Electric Networks of Armenia (ENA).

According to ADB, the loan is aimed at helping improve electricity distribution and increase energy independence and efficiency in Armenia.

“A more efficient and reliable energy distribution network is important for economic growth in Armenia,” said Sonali Tang, Senior Investment Specialist at ADB’s Private Sector Operations Department.

“The investment program will contribute to the goal of the Armenian government to achieve energy independence and energy efficiency. Our partnership with ENA will have a meaningful impact on Armenian people and businesses by improving the reliability of electricity distribution through the proposed investment program,” ADB representative added.

The investment will help ENA improve private sector electricity distribution in Armenia by reducing distribution losses from around 10% in 2016 to around 8% by 2021.

ADB support will allow ENA to improve the quality of the distribution network and services of its multi-site operations across the country, reduce electricity losses and operational expenses, improving technical maintenance and safety conditions, modernizing the metering system, rehabilitating, reinforcing, and augmenting the distribution network, connecting new customers and introducing international standards of management and automated control system.