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Armenia Caucasus Transmission Line Project Has Obtained 10 Million Euros Loan

On November 13, the Caucasus transmission line agreement obtained parliamentary approval of the Armenian, then the region obtained the European Investment Bank 10 million euro loan for Caucasus transmission line project.

According to the Deputy Minister of Armenian Energy and Natural Resources Ministry introducing, the European Investment Bank planned to provide 10 million euros loan to Armenia for the construction of high voltage transmission lines to the Georgia border.

The total cost of the project was 320 million euros. The power of Armenian high-voltage transmission line would be increased from 350 MW to 1050 MW. The project was divided into three section, including the first section built in 2014 to be completed in 2018, the second segment expected to be completed by 2021, and the third segment expected be completed by 2026.

Caucasus transmission line project was estimated at some 107 million euros of the total amount, of which 85 million euros loan from the EBRD. The EU would provide 10 million euros to Armenia in the form of grant. The European Investment Bank would provide 10 million euros loan at 0.5% interest per year, whose period was 25 - 28 years.
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