COVID-19 Working Capital Support Project

Nonsovereign (Private) Project | 50146-002

The project will support the borrower's increased working capital needs.

Project Details

  • Project Officer
    Pocheim, Wolfgang
    Private Sector Operations Department
    Request for information
  • Country
    Armenia
  • Sector
    • Energy
Project Name COVID-19 Working Capital Support Project
Project Number 50146-002
Borrower/Company Electric Networks of Armenia CJSC
Country Armenia
Location Nation-wide
Type or Modality of Assistance
3927 Loan Ordinary capital resources USD 20.00 million Committed
Strategic Agendas Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Energy / Electricity transmission and distribution

Gender Equity and Mainstreaming Some gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Portfolio Management Division, PSOD
Responsible ADB Officer Pocheim, Wolfgang
Project Sponsor(s) Liormand Holdings Limited
Tashir Capital JSC
Description The project will support the borrower's increased working capital needs.
Objectives and Scope The loan will assist ENA to relieve the financial stress caused by delayed payments of electricity bills by ENA's private customers due to the coronavirus disease (COVID-19), which could otherwise lead to deterioration of its services and ultimately disrupt Armenia's access to electricity.
Linkage to Country/Regional Strategy The project is aligned with two operational priorities under ADB's Strategy 2030: operational priority 2 (accelerating progress in gender equality) and operational priority 4 (making cities more livable). Ensuring the supply of electricity will enable economic activity across the country and enhance the resilience of Armenian cities to sustain and support an effective response to the pandemic and limit its negative externalities. Access to electricity is a basic human need and all households and businesses across Armenia will benefit from the supply of uninterrupted electricity in all cities.
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects ADB has categorized the investment in compliance with ADB's Safeguard Policy Statement (2009) as environment category C.
Involuntary Resettlement ADB has categorized the investment in compliance with ADB's Safeguard Policy Statement (2009) as involuntary resettlement category C.
Indigenous Peoples ADB has categorized the investment in compliance with ADB's Safeguard Policy Statement (2009) as indigenous peoples category C.
Stakeholder Communication, Participation, and Consultation Borrower's environmental and social management system (ESMS) includes provisions and procedures for stakeholder engagement, community consultation, and grievance resolution in its operations.
Timetable for assistance design, processing and implementation
Concept Clearance 14 Apr 2020
Credit Committee Meeting 19 May 2020
Approval 28 May 2020
Last PDS Update 12 Oct 2020

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

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Title Document Type Document Date
COVID-19 Working Capital Support Project: FAST Report Faster Approach to Small Nonsovereign Transactions May 2020
COVID-19 Working Capital Support Project: Initial Poverty and Social Analysis Initial Poverty and Social Analysis May 2020

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.


The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

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