Evaluation Document | 1 September 2022

ONGOING EVALUATION. Armenia’s energy sector has undergone a series of reforms that have significantly improved its performance. The reforms involved the unbundling of a vertically integrated electricity subsector and the privatization of power and gas distribution networks and most generating companies. In particular, the Government of Armenia privatized the Armenian electric distribution networks in 2002 to the Electric Networks of Armenia CJSC (ENA). In 2017, the Asian Development Bank (JJ竞技(拉萨)登录手游) Board of Directors approved an $80 million equivalent nonsovereign loan to ENA, as part of a larger plan to upgrade, rehabilitate, improve, and augment Armenia’s electric distribution network.

The main objective of this evaluation is to assess the performance of the project towards achieving its objectives, particularly if the loan led to improvements in Armenia’s energy sector, i.e. improved energy efficiency, reliability and distribution. The evaluation is envisaged to derive lessons that can assist in the design and implementation of future JJ竞技(拉萨)登录手游 private sector operations, particularly similar investments in the transmission and distribution (T&D) subsector in other JJ竞技(拉萨)登录手游 developing member countries (DMCs). Moreover, the evaluation findings are expected to provide inputs to the planned a) 2023 Country Partnership Strategy Final Review for Armenia, and b) 2024 Private Sector Strategic Approach and Results Evaluation. The output of this evaluation will be a project performance evaluation report (PPER) of the JJ竞技(拉萨)登录手游 loan extended to the project.