EcoLur
The public is calling for Asian Development Bank (ADB) to work transparently, particularly in regard with the funding of Sevan-Hrazdan Cascade and adding that Lake Sevan is number one environmental problem for Armenia.
This problem was discussed at the meeting held at ADB Armenia office with the participation of Areg Barseghyan, Senior Portfolio Management Officer, Silva Adamyan – Chairman of “Center for Bird Lovers”, Aram Grigoryan – “Union of Public Defenders” NGO, Hasmik Aslanyan – Chairman of “Shogher Union” NGO and Monica Yeritsyan – “EcoLur” Informational NGO.
The ADB has allotted a loan of US $ 25 million to “International Energy Corporation” CJSC for the rehabilitation of Sevan-Hrazdan Cascade. RusHydro provided corporate guarantee for this transaction as a main shareholder of IEC.
Aram Grigoryan said, “The company has 100% of Russian capital and makes business in Armenia due to environmental problems. Our analyses are based on the company data only and the facts show that when the water outlets from Lake Sevan increase, the company production capacities and financial flows also increase,” Aram Grigoryan said.
ADB Senior Portfolio Management Officer Areg Barseghyan said, “Sevan and Hrazdan HPPs work only in irrigation season, when water is let out of Lake Sevan, and there is no water from Lake Sevan, they don’t work. The rest of HPPs work all year round. Loss of water is available, as the canal is old – 54 km of canal is being rehabilitated, which will help to reduce water loss by 30%.”
At the end of the meeting the bank representatives noted that the meeting with the public will be continuous, while public representatives proposed to have meetings in trilateral format with the participation of the companies to whom the bank allots loans.
September 29, 2014 at 16:19