Armenian Prime Minister receives Delegation of German Development Bank KfW

ArmInfo. Prime Minister of  Armenia Karen Karapetyan met with the delegation of the German  Development Bank KfW, which was headed by the regional director Olaf  Zimelk.

As the press service of the Armenian government reports, during the  meeting the parties discussed issues related to programs financed by  the bank.

According to the source, the Prime Minister highly appreciated the  cooperation with KfW and stressed the importance of the programs  implemented by the bank in various sectors of the Armenian economy  and ensuring their duration.

For his part, Olaf Zimelk stated that cooperation with the Armenian  government is effective until today and expressed readiness to  discuss the issues and proposals presented with the concretization of  further steps in this direction. Returning to the activities of the  Armenian authorities, the regional director of KfW noted the high  growth rates of Armenia's GDP and effective steps to diversify  exports.

KfW is one of the major donors of Armenia. KfW's investments for the  past 20 years have exceeded 500 million EUR for more than 14  programs, including in the field of SMEs, the agricultural sector,  energy complex, the environment and in the financial and banking  sector. Armenia's external debt to the Bank on April 1, 2017 Amounted  to $ 213.2 million (4.4% of the total external debt of the RA) with  an annual growth of 6.4%.