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Japan Provides $370mln Financial Assistance to Armenia over 10 Years

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  • Japan Provides $370mln Financial Assistance to Armenia over 10 Years

    Japan Provides $370mln Worth Financial Assistance to Armenia over Last
    10 Years


    YEREVAN, May 27. /ARKA/. Japan provided a total of $370mln financial
    assistance to Armenia over the last ten years, Ambassador of Japan to
    Armenia Yasuo Saito said.

    After gaining independence Armenia encountered serious difficulties,
    yet it makes great efforts to develop its economy and build up its
    democracy and is worthy of respect, the Ambassador told a press
    conference in Yerevan.

    Saito stressed that the country focuses on development of energy field
    and for this purpose over $300mln has been allocated to Armenia. Of it,
    $250mln was the loan of the Japanese JBIC Japanese bank for
    construction of a modern heat and gas energy unit of combined cycle at
    Yerevan Heat Station and $52mln for improving the distributor network,
    the Ambassador said.

    Japan provides assistance to Armenia for development of
    infrastructures, social sector, poverty reduction, personnel training,
    as well as to ensure freedom of speech and democracy and development of
    education.

    270 Armenian specialists have been trained in Japan under technical
    assistance program, the Ambassador said.-0-
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