Power Sector Financial Recovery Program (WB-P157571)

  • Armenia
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 27, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Republic of Armenia
The holder of the loan, grant, or other investment.
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 40.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 8, 2017

Disclosed by Bank Jan 20, 2016

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Project Description
This project supports a financial recovery program for the state-owned power generation companies and the private power distribution company, in order to maintain adequate and reliable electricity supply.
Investment Description
  • World Bank (WB)
Contact Information
Contact 1: Arthur Kochnakyan Title: Senior Energy Economist Tel: +37410-594270 Email: akochnakyan@worldbank.org Contact 2: Ranjit Lamech Title: Practice Manager Tel: +1202-4733282 Email: rlamech@worldbank.org Borrower/Client/Recipient Contact: Mr. Gagik Khachatryan Title: Minister of Finance Tel: +37460-595-304 Email: press@minfin.am Implementing Agencies Name of Agency/ies: Ministry of Energy and Natural Resources Contact: Mr. Yervand Zakharyan Title: Minister of Energy and Natural Resources Tel: +37411-52-19-64 Email: minenergy@minenergy.am ACCOUNTABILITY MECHANISM OF WORLD BANK The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.