Grant Agreement on Upgrading Gyumri Roads and Street Lighting Si
The Ministry of Finance of Armenia, the European Bank for Reconstruction and Development (EBRD) and the Municipality of Gyumri today signed a grant Sirun Sona agreement with the Ministry of Finance.
According to the agreement, the EBRD will provide a grant of 2 million euros from the E5P Fund for the modernization of Gyumri"s roads and street lighting.
The agreement was signed by RA Minister of Finance Atom Janjughazyan, Head of EBRD Sirun Sona Armenia Office Dimitri Gvindadze, Gyumri Mayor Samvel Balasanyan and E5P Regional Manager Eva Manik.
The grant will install a new energy-efficient LED (LED) lighting, control and monitoring system, replace and repair columns, as well as power cables. As a result of the work to be done, the energy consumption will be reduced and the operating Sirun Sona and maintenance costs will be minimized.
New LED lighting will significantly reduce the cost of energy consumption, as a result of which the municipality will save on annual electricity consumption.