According to Asian media, on May 11, the European Bank for Reconstruction and Development, President Shakrabati, signed an agreement with the Armenian Minister of Finance, Hachatel, and the European Bank for Reconstruction and Development will provide $4 million to Yerevan for energy efficiency. Technical transformation of Yerevan urban road lighting system.

The city of Yerevan has a population of 1.1 million, accounting for about one-third of the country's population, but the road lighting network is still composed of old, inefficient and polluting mercury lamps. The project will reduce energy consumption, minimize operating and maintenance costs, and improve service quality, environmental standards, and safety of motor vehicles and pedestrians by introducing LED energy-saving lamps, establishing monitoring systems, and replacing poles and power cables.

Since 1992, the European Bank for Reconstruction and Development has implemented 135 projects in Armenia's finance, infrastructure, energy and other fields, with a total investment of more than 900 million euros.

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