At the August 20 sitting, the Armenian government made an amendment to the RA government's Protocol Decision on Approval of the List of Measures Proceeding from the Speech of RA Prime Minister at the National Assembly. In particular, the section "Implementation of New Energy Projects of Regional Significance" in the decision's appendix was laid down in a new version and the construction of Meghri hydropower plant was included in the list. The construction work is to be done in 2010-2015. According to the RA Government Press and PR Department, the necessity to make the indicated amendment arose in connection with the Memorandum on Mutual Understanding on the Construction of the Meghri Hydrpower Plant which was signed between the energy ministries of Armenia and Iran during the Armenian president's visit to Iran. Approving the decision, RA Prime Minister Tigran Sargsyan addressed the problems related to the financial stability of Armenia's energy sector. He proposed taking a protocol decision for ensuring the financial stability of the energy system. "For preventing a rise in the tariff of power sold to ultimate consumers, there is a necessity to fill the financial gaps in the energy system at the expense of state enterprises operating in the sector," the prime minister said.

European Bank for Reconstruction and Development (EBRD) and "Elite Group" company signed today an agreement on medium-term loan in the Fresco hall of the Armenian National Gallery. The document has been signed by the head of "Elite Group" company Armen Mkoyan and head of the Armenian office of EBRD Valeriu Razlog. Armenian Prime Minister Tigran Sargsyan, EBRD regional director Paul Henry Forstier, Armenian Finance Minister Tigran Davtyan, head of the Armenian Union of Manufacturers and Businessmen Arsen Ghazaryan, members of the Government and businessmen were present at the ceremony of signing. With the agreement 5.5 million USD credit is provided to the leader of the construction sphere in Armenia "Elite Group" company as well as 130 000 euro of grant for the encouragement of the innovations implemented in the energy saving sphere. According to the Prime Minister Tigran Sargsyan, the signing of this agreement has an important role it will assist to smoothen the results of the financial-economic crisis. The Prime Minister congratulated the present on the signing of the agreement and expressed gratitude to P. Henry Forstier stressing that in spite of the negative impact of the crisis and serious risks discovered in different spheres including the construction he is sure the credit means will assist the Armenian economy. "I am glad to be in Armenia; this is the second time we are implementing a credit project in Armenia and I hope it will become a tradition. We are providing credit to the Armenian economy through "Elite Group". It is pleasant for us to mention that the EBRD has spent nearly 1 million Euro in the Armenian energy efficiency sphere. I hope there will be other occasions for us to assist the Armenian economy," P Henry Forstier said.