Prime Minister to Negotiate with EBRD

YEREVAN (Noyan Tapan)–Armenia’s Prime Minister Armen Sarkissian left for London Thursday to negotiate with the president of the European Bank for Reconstruction and Development and its board of directors.

There are reportedly problems with EBRD’s loan allocated for the construction of the fifth block of the Hrazdan Thermal Energy Plant. The initial $57 million loan was insufficient to cover the total cost of the construction. An additional $80 million is said to be needed to complete the construction. According to reports–the discrepancy was due to a calculation error.

The prime minister will discuss possible solutions to the problem in addition to other projects.

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