Wednesday, 29 October 2003

WORLD BANK OFFICIAL OPPOSES CEDING MORE ARMENIAN ENERGY FACILITIES TO RUSSIA

Published in News Digest

By empty (10/29/2003 issue of the CACI Analyst)

The transfer to Russia\'s state-run Unified Energy Systems (EES) of more Armenian energy facilities would be \"undesirable,\" World Bank official Gevorg Sargsian told RFE/RL\'s Yerevan bureau on 28 October. EES has acquired control of 80 percent of Armenia\'s power-generating capacity through a series of equity-for-debt agreements that cleared Yerevan\'s $100 million debt to Moscow. Sargsian stressed that \"we have nothing against EES or any other foreign company,\" but that the bank would prefer that other owners acquire the power facilities remaining to be privatized.
The transfer to Russia\'s state-run Unified Energy Systems (EES) of more Armenian energy facilities would be \"undesirable,\" World Bank official Gevorg Sargsian told RFE/RL\'s Yerevan bureau on 28 October. EES has acquired control of 80 percent of Armenia\'s power-generating capacity through a series of equity-for-debt agreements that cleared Yerevan\'s $100 million debt to Moscow. Sargsian stressed that \"we have nothing against EES or any other foreign company,\" but that the bank would prefer that other owners acquire the power facilities remaining to be privatized. (RFE/RL)
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The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.

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