EBRD intends to implement an energy saving project with 3-5 banks of Armenia

He said that the given project will be implemented via 3-5 Armenian banks. It is envisaged to provide the funds to industrial enterprises of Armenia for energy saving. Target credits will be the ones for upgrading of equipment, acquisition of turbines, implementation of programs allowing to save heat and electric power. The matter concerns investments in developments, equipment, monitoring, and everything that can lead to energy saving, Razlog said.

Earlier he told ArmInfo that in case of successful implementation of the energy saving program in the industrial sector, it will also be implemented for private persons. Energy saving projects have a positive effect on the environment protect from carbon dioxide burst and increase of the environment temperature. In this sphere EBRD sees a big potential in Armenia as the latter has no energy resources of its own, and to raise the competitiveness of Armenian companies in international markets one should decrease consumption of expensive energy, the share of which in the structure of expenses is quite big",- he stressed.