Original disclosure @ IFC website
Updated in EWS Sep 21, 2020
Disclosed by Bank Aug 28, 2020
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According to the Bank's website, the project provides financing to thr ENA to fund modernization and rehabilitation of its electricity distribution network.
The main environmental and social risks identified by the Bank include the presence of toxic polychlorinated biphenyls (PCBs) in old ENA transformers; historical PCB contamination of soil and potentially groundwater; high rate of accidents related to hazardous electrical exposures to workers and members of community; historical illegal dwellings and structures in protection zones of existing substations and powerlines’ right-of-way (ROW); and potential impacts on biodiversity (mainly through birds’ electrocution and collision with wires).
ENA is a private company established under the laws of Armenia and owned by Tashir Capital CJSC (70%) and Liormand Holdings Ltd. (30 %). Both entities are ultimately owned by the family of Samvel Karapetyan, a Russian businessman of Armenian origin.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||CJSC Electric Networks of Armenia||Client||-|
PROJECT CONTACT INFORMATION
Electricity Networks of Armenia
127, Armenakyan street Yerevan, Armenia, 0047
ACCESS TO INFORMATION
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