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Wednesday, 29 October 2003
WORLD BANK OFFICIAL OPPOSES CEDING MORE ARMENIAN ENERGY FACILITIES TO RUSSIA
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)