Friday, April 1 2011 20:01

On April 2-5 chairman of Central Bank of Armenia to participate in sitting of Monitoring Council of German-Armenian Fund in Frankfurt


ArmInfo. On 2-5 April Chairman of the Central Bank of Armenia (CBA) Artur Javadyan will participate in a sitting of the Monitoring Council of the German-Armenian Fund in Frankfurt.

The CBA press service told ArmInfo that the sitting will cover the process of implementation of the German KfW Bank-funded credit projects in Armenia. During the visit to Frankfurt the Armenian delegation will also hold meetings at the German Ministry for Economic Cooperation.

To note, the German KfW Bank implements a number of programs in Armenia: on mortgage crediting, SME financing, renewable energy crediting, water supply system modernization financing, as well as the program "Caucasus Initiative". From 1993 to 2010 the German Government provided Armenia with loans worth over 400 mln EUR (55 mln EUR of them as grants) via KfW. Actually, Armenia has used about 300 mln EUR of these funds.
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