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KFW HAS COMMITTED EURO 400 MILLION TO ARMENIA SINCE 1995
ARKA
Feb 16, 2010
YEREVAN, February 16, /ARKA/. In an interview with ARKA news agency
Karapet Gevorkyan, the representative of German KfW Development Bank
in Armenia, Candidate of Economy, said German Financial Cooperation
with Armenia dates back to 1995.
Since then and until 2010, the German Government has committed around
400 million euros to Armenia. Of this amount 250 million were made
avaialble and 150 million of it were invested in differnet projects.
As for 110 million aid for 2009-2010 no tranche of it was disbursed
yet. Accoridng to Mr. Gevorkyan, it will be provided only after the
ratification of the integrovenrmntal accord and signing of relating
agreemnts. This aid is expected to begin arriving in the seocnd quarter
of the year. Of 400 million euros committed by German govenrment
to Armenia, 325 million are intergovenrmnatl financial cooperation,
75 million were extended directly to private companies.
Particulalry, 50 million euros were porvided to ArmRosGazprom gas
operator last June for installemnt of gas detectors, expansion and
rasing the safety of Abovian undergorund gas storage facility, as
well as for modernization of gas transporting and distribution system.
Some 25 million euros were provied to ACBA Credit-Agricole Bank for
on-lending to small and medium businesses. At the same time out of
325 million euros about 50 million are grants intended for technical
and financial consultations, development of design documentation,
personnel training, introduction of new technologies and software. The
second direction of the bank's operation embraces support to ecology
and health projects.
KfW representation was opened here in 1998. The bank supports
implementation of projects in energy, drinking water and sewage
sectors, as well as finance and banking and private sectors.
ARKA
Feb 16, 2010
YEREVAN, February 16, /ARKA/. In an interview with ARKA news agency
Karapet Gevorkyan, the representative of German KfW Development Bank
in Armenia, Candidate of Economy, said German Financial Cooperation
with Armenia dates back to 1995.
Since then and until 2010, the German Government has committed around
400 million euros to Armenia. Of this amount 250 million were made
avaialble and 150 million of it were invested in differnet projects.
As for 110 million aid for 2009-2010 no tranche of it was disbursed
yet. Accoridng to Mr. Gevorkyan, it will be provided only after the
ratification of the integrovenrmntal accord and signing of relating
agreemnts. This aid is expected to begin arriving in the seocnd quarter
of the year. Of 400 million euros committed by German govenrment
to Armenia, 325 million are intergovenrmnatl financial cooperation,
75 million were extended directly to private companies.
Particulalry, 50 million euros were porvided to ArmRosGazprom gas
operator last June for installemnt of gas detectors, expansion and
rasing the safety of Abovian undergorund gas storage facility, as
well as for modernization of gas transporting and distribution system.
Some 25 million euros were provied to ACBA Credit-Agricole Bank for
on-lending to small and medium businesses. At the same time out of
325 million euros about 50 million are grants intended for technical
and financial consultations, development of design documentation,
personnel training, introduction of new technologies and software. The
second direction of the bank's operation embraces support to ecology
and health projects.
KfW representation was opened here in 1998. The bank supports
implementation of projects in energy, drinking water and sewage
sectors, as well as finance and banking and private sectors.