Armenia hopes to develop a full-fledged program of activities within the framework of the idea "Ecology in exchange for debt" until mid-February 2018

ArmInfo. Implementation of the  program "Ecology in exchange for debt", the Ministry of Nature  Protection of Armenia puts at the forefront. "The program, in fact,  is unprecedented - a country that has no problems with paying off  foreign debt, is going to a similar step," Minister of Nature  Protection Artsvik Minasyan told reporters on December 25.

According to him, in order to implement the program, a working  commission has been set up at the moment. The idea has already been  approved by the World Bank, which should provide technical assistance  in implementing the program. As noted by the head of the Ministry of  Defense, as a rule, the formula "Environmental program in exchange  for debt" works in those countries that have problems with servicing  the public external debt. As of today, Armenia does not face such  tasks, but at the same time, attaches great importance to the use of  this mechanism in order to invest in the environment, and, instead of  making payments on external debt, invest in fauna and flora, as well  as effective management of the republic's water resources. "As an  example, Armenia owes Japan, and annually it is obliged to direct  certain funds to service this debt, in turn, Japan has certain  international obligations conditioned by the change in the global  climate.Our task is to be able to reach agreement with the Japanese  side, and the funds planned for servicing the state debt to invest in  environmental programs.Thus, both Yerevan and Tokyo fulfill their  international obligations, "Artsvik Minasyan said.

According to the minister, it is expected that by mid-February a  full-fledged, realistic program of activities in this direction. One  of the most important items of the future program will be the  expansion of the forest area, noted Artsvik Minasyan.