YEREVAN (Respublica Armenia)–According to Minister of Energy Gagik Martirosian Armenia is expected to soon receive a loan for $90 million from the World Bank for reforms in the energy sector.
He said that the loan will mainly serve to improve energy accounting and conservation–as well as gaining more control over the system.
The Ministry developed a three-stage program for development of energy systems. The first stage is slated to finish in 1999. This stage will be dedicated to the stabilization–regulation and complete elimination of losses. The second stage–which will last until the year 2005–will be the first stage of development–to be followed by the second development stage through 2010.
According to the Minister–the Nuclear Power Plant will remain a state enterprise–whereas regional energy networks–all thermal and hydropower plants will be privatized.
Privatization of small hydropower plants have already begun.