Germany to provide financial assistance to Armenia for regional programs and development of infrastructures
YEREVAN, November 23. /ARKA/. Germany will provide €54.4 million to Armenia as financial assistance for implementing infrastructural projects and another €22 million for the country's participation in the regional development program, the press office of Germany's embassy in Armenia reported on Tuesday after international consultations.
Armen Hayrapetyan, deputy Armenian finance minister, and Johannes Dopffel, representative of the German Federal Ministry for Economic Cooperation and Development (BMZ), signed a cooperation protocol after the consultations.
According to the press release, an arrangement was made after negotiations with participation of Germany's KfW Bank that the German side will provide €54.4 million to Armenia as financial assistance.
Of this amount, €36.1 million will be spent on stable economic development programs that are being implemented by GAF German-Armenian Fund, €5.3 million will be provided as assistance for introduction of agriculture insurance system in Armenia, €8.3 million will be invested in community infrastructures for garbage removal in Lori province, €2 million will be targeted on development of water economy and €2.7 million on managing water resources of Akhuryan River.
Of the another €22 million the German government allocates for Armenia's participation in Caucasus Initiative regional program, €21 million will be spent on technical assistance and €1 million on implementation of regional programs of financial interaction. --0----
Armen Hayrapetyan, deputy Armenian finance minister, and Johannes Dopffel, representative of the German Federal Ministry for Economic Cooperation and Development (BMZ), signed a cooperation protocol after the consultations.
According to the press release, an arrangement was made after negotiations with participation of Germany's KfW Bank that the German side will provide €54.4 million to Armenia as financial assistance.
Of this amount, €36.1 million will be spent on stable economic development programs that are being implemented by GAF German-Armenian Fund, €5.3 million will be provided as assistance for introduction of agriculture insurance system in Armenia, €8.3 million will be invested in community infrastructures for garbage removal in Lori province, €2 million will be targeted on development of water economy and €2.7 million on managing water resources of Akhuryan River.
Of the another €22 million the German government allocates for Armenia's participation in Caucasus Initiative regional program, €21 million will be spent on technical assistance and €1 million on implementation of regional programs of financial interaction. --0----