Armenia: COVID-19 Working Capital Support Project

Nonsovereign Project | 50146-002

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

Project Details

  • Project Officer
    Mokroussov, Sergey
    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 Closed
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 Mokroussov, Sergey
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.
Status of Operation/Construction The facility has matured (fully repaid).
Linkage to Country/Regional Strategy The project is consistent with the Midterm Review on Strategy 2020, which includes a focus on private sector development and operations, and infrastructure development. ADB's support for the project is in line with its country partnership strategy for Armenia, 2014-2018 that supports energy security by diversifying energy sources and rehabilitating and upgrading electricity transmission and distribution networks.
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 18 Nov 2021

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.

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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 Access to Information Policy (AIP) 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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