Armenia’s capital Yerevan will receive $4 million (£2.5m) to improve its street lightning.
The loan comes from the European Bank for Reconstruction and Development (ERDB) and will be completed with $2 million (£1.2m) from the Eastern Europe Energy Efficiency and Environment Partnership (E5P).
Yerevan’s street lightning network is considered an environmental risk. Its old structure and materials can damage the environment and contribute to energy waste.
To solve this problem the project will use LED lights and will replace the old cable system. Its aim is to cut energy consumption and guarantee better environmental standards.
EBRD Head of Office in Yerevan Mark Davis said: “The new street lighting will contribute to Yerevan’s goal of reducing its CO2 emissions, while at the same time significantly reducing the city’s energy bill. In addition, the project will contribute to the comfort and safety of residents.”