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Electricity saving is one of most important sources of investment, UNDP representative says

YEREVAN, October 20. /ARKA/. Saving electricity is one of the most important sources of investment and economic growth for Armenia, Deputy Permanent Representative of UNDP in Armenia Dmitry Maryasin told a news conference today.

He said UNDP’s activities in Armenia are aimed at preventing the negative effects of climate change, both in terms of creating conditions for reducing the burden on the environment and combating their consequences.

Summing up the results of the organization's 25 year-long activity in Armenia Maryasin said that the UNDP launched recently a large project with the financing of the Green Environmental Fund. In his words, Armenia will receive $20 million in grants through UNDP to implement radical changes for increasing energy efficiency in Armenia.

He singled out a pilot project in Yerevan's Avan administrative district where a multi-storey building was completely modernized making it more effective in terms of energy saving. He said  the modernization was not done by replacing windows in apartments, but by coating the building with a special energy-efficient cladding, including the roof, the entrances and the common spaces.

"The amazing effect is a 60% reduction in energy losses, which means that in winter, families living in this building spend 60% less on heating," said Maryasin. According to him, such projects are necessary for Armenia, because saving on consumption is one of the important sources of investment and growth for the country.

"This project also reduces emissions to the atmosphere, because the heat that goes out through the cracks in buildings, directly affects climate change," added Maryasin. He added that within the framework of the new project, UNDP plans to make this kind of cladding in at least a few hundred buildings throughout Armenia.

"We want to create an entirely new system for financing such projects, when residents of these apartments are invited to conclude contracts whereby  their utility bills do not change, but instead of paying for gas or electricity they gradually, within a few years, pay the cost of the cladding," said Maryasin.

He stressed that if the plan is implemented, it will become a model that, according to UNDP estimates, can be of great importance for Armenia and from the point of view of saving energy consumption, and in terms of investments.

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