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GERMANY TO LEND ARMENIA 75 MLN EUROS IN THREE LOANS
Interfax, Russia
March 13 2013
Armenia will obtain three loans totaling 75 million euros from
Germany. This is envisaged in an agreement on financial cooperation
that was signed Monday in Yerevan by Armenian Finance Minister Vache
Gabrielyan and German Ambassador to Armenia Reiner Morell.
The Armenian Finance Ministry told Interfax that all the money would
be allocated through German government bank KfW.
There will be a 40 million euro loan to implement the third stage
of the renewable energy development program. The first stage of the
program was funded by a 6 million euro loan from KfW in line with an
agreement with the Central Bank of Armenia of 2004 and the second 18
million euro loan was agreed in May 2010.
In addition, the Germany bank will allocate a soft loan of 15 million
euros for the agriculture sector and 20 million euros for the recycling
and disposal of waste in Vanadzor.
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Interfax, Russia
March 13 2013
Armenia will obtain three loans totaling 75 million euros from
Germany. This is envisaged in an agreement on financial cooperation
that was signed Monday in Yerevan by Armenian Finance Minister Vache
Gabrielyan and German Ambassador to Armenia Reiner Morell.
The Armenian Finance Ministry told Interfax that all the money would
be allocated through German government bank KfW.
There will be a 40 million euro loan to implement the third stage
of the renewable energy development program. The first stage of the
program was funded by a 6 million euro loan from KfW in line with an
agreement with the Central Bank of Armenia of 2004 and the second 18
million euro loan was agreed in May 2010.
In addition, the Germany bank will allocate a soft loan of 15 million
euros for the agriculture sector and 20 million euros for the recycling
and disposal of waste in Vanadzor.
me