Thursday, December 14 2017 16:53
Naira Badalian

German Development Bank KFW to provide 18.5 million euros in the second phase of the water management program

ArmInfo. The German development  bank KFW will provide EUR 18.5 million in the second stage of the  program "Management of combined water resources/Akhuryan River ". The Armenian government approved the draft of the relevant  loan agreement on December 14.

Deputy Minister of Finance of Armenia Karen Tamazyan explained,  earlier in 2014, the German development bank KfW provided Armenia  with a loan of 50 million euros and a 2 million euro grant for the  implementation of the water management program. The funds were  provided for a period of 15 years with a 5-year grace period at a  fixed loan rate, which was fixed on the day of signing the agreement.   Financial resources will be used to restore the Kaps reservoir. In  the second phase, it is planned to reconstruct the Kumayri irrigation  water tunnel, to create a pipeline system. As a result, an effective  irrigation of the territory with a total area of 740 hectares will be  ensured.

As stated in the certificate of justification for the document, the  loan is granted with a maturity of up to 15 years, with 5 years of  grace period. The maturity of the principal amount is from May 15,  2023 to November 15, 2033. The interest rate is floating (6-month  EURIBOR + fixed spread). A one-time management fee will be 1% of the  loan amount.

Already after the government meeting, responding to the question of  ArmInfo, the head of the State Water Management Committee of Armenia  Arsen Harutyunyan said that the construction of the Cape reservoir is  still under construction. Since 2014, the project invested $ 37.5  million to restore the irrigation system and provide a transition  from a mechanical to a gravity irrigation system. As for the  construction of the Yeghvard water reservoir, as noted by  Harutyunyan, the works are suspended due to the high cost of the  project and its low efficiency. "We have a lot of more significant  projects, the implementation of which will lead to more significant  results with less cost," he said.

In the framework of the assignment of the Prime Minister of Armenia,  as the head of the Committee noted, at this stage there are 11  ready-made projects on construction of small water reservoirs in  Vayots Dzor, Syunik, Tavush and Armavir regions of Armenia. The total  budget will be $ 70mln and their implementation, according to Arsen  Harutyunyan, will become possible thanks to private investments.   "There is a process of discussion with potential investors for  attracting investments," he said.

Earlier, ArmInfo informed that in 2017 it is planned to complete  design works on restoration and completion of construction of the  Cape Reservoir on the Akhuryan River bordering Turkey. Already in  early 2018, a tender for the construction of a reservoir will be  announced. As a result of the construction of the Kaps reservoir,  which was suspended in 1994, it is planned to provide an additional  5,000 hectares of irrigation. The work, according to different  estimates, will last about 5 years.

To date, there are about 90 different reservoirs in Armenia and in  the next five years, judging by the government's plans, significant  progress is being made in this area. In total it is planned to build  4 large reservoirs. The new reservoir will appear in Vedi - 29  million cubic meters, Eghvard - 90 million cubic meters, the  reservoir Kaps - at the first stage of 25 million cubic meters, at  the second - up to 60 million, and also on the rivers Selav and  Mastara - 10 million cubic meters. All this will be carried out  within the framework of credit programs and program costs will amount  to about $ 350-400 million. Funding is mainly provided from credit  resources from international donors such as the Japan International  Cooperation Agency (JICA), the Eurasian Development Bank, the French  Development Agency, the German Development Agency bank KFW and  others.

POST A COMMENT
Input digits     


News
Transavia airline starts operating route Lyon-Yerevan-LyonTransavia airline starts operating route Lyon-Yerevan-Lyon
EAEU and its economic principles should not be mixed with political  ambitions - Nikol PashinyanEAEU and its economic principles should not be mixed with political  ambitions - Nikol Pashinyan
Armenia, Australia to strengthen cooperation in high-tech field Armenia, Australia to strengthen cooperation in high-tech field 
Leasing EXPO -2024 officially opened in YerevanLeasing EXPO -2024 officially opened in Yerevan
Araratbank to double leasing portfolio by end of 2024Araratbank to double leasing portfolio by end of 2024
Armenian, Kazakh passenger and cargo carriers to be exempted from  road and environmental taxes on reciprocal basis Armenian, Kazakh passenger and cargo carriers to be exempted from  road and environmental taxes on reciprocal basis 
Economy Ministry jointly with Armenal, develop schemes to diversify  sales markets for enterprise`s productsEconomy Ministry jointly with Armenal, develop schemes to diversify  sales markets for enterprise`s products
Info about IT specialists leaving Armenia en masse has nothing to do  with reality - premierInfo about IT specialists leaving Armenia en masse has nothing to do  with reality - premier
WB improves Armenia`s   economic growth forecast for 2024 from 4.7%  to 5.5% WB improves Armenia`s   economic growth forecast for 2024 from 4.7%  to 5.5% 
Government is ready to share risks with agricultural insurersGovernment is ready to share risks with agricultural insurers
EIB to issue loan under energy efficiency programme to Armenia EIB to issue loan under energy efficiency programme to Armenia 
Deadline for filing personal income declarations in Armenia may be  extendedDeadline for filing personal income declarations in Armenia may be  extended
ADB intends to expand its areas of activity in ArmeniaADB intends to expand its areas of activity in Armenia
ADB forecasts 5.7% economic growth for Armenia in 2024ADB forecasts 5.7% economic growth for Armenia in 2024
Conversebank to present its Converse Leasing product at annual  Leasing ExpoConversebank to present its Converse Leasing product at annual  Leasing Expo
By rebranding, INGO Armenia IC begins new stage of developmentBy rebranding, INGO Armenia IC begins new stage of development
Some countries refusal to service Russian Mir bank cards against  common interests - Elvira NabiullinaSome countries refusal to service Russian Mir bank cards against  common interests - Elvira Nabiullina
USAID to invest additional $33mln in Armenia`s economy USAID to invest additional $33mln in Armenia`s economy 
Idplus Bonuses in Idram&IDBank ApplicationIdplus Bonuses in Idram&IDBank Application
Deputy PM: we are ready for any assistance to contribute cargo  aviation establishmentDeputy PM: we are ready for any assistance to contribute cargo  aviation establishment
Mkhitar Hayrapetyan on TV broadcasting agreement with RF: If our  proposals are not taken into account, we do not rule out possibility  of terminating agreement unilaterallyMkhitar Hayrapetyan on TV broadcasting agreement with RF: If our  proposals are not taken into account, we do not rule out possibility  of terminating agreement unilaterally
Armenia, Iran discuss organization of joint production in various  branches of economy Armenia, Iran discuss organization of joint production in various  branches of economy 
ADB ready to fund northern section of Sisian-Kajaran highway of  North-South transport corridor  ADB ready to fund northern section of Sisian-Kajaran highway of  North-South transport corridor  
Armenia`s Ministry of High-Tech Industry developing sectoral strategy Armenia`s Ministry of High-Tech Industry developing sectoral strategy 
Armenia`s footwear exports to Russia 11 times up Armenia`s footwear exports to Russia 11 times up 
EDB sets course for digital future of transportation at joint EEC and  ESCAP eventEDB sets course for digital future of transportation at joint EEC and  ESCAP event
Team`s Next Generation Networ is already available in AshtarakTeam`s Next Generation Networ is already available in Ashtarak
Kazakhstan`s potential exports to Armenia total $350mln - minister Kazakhstan`s potential exports to Armenia total $350mln - minister 
Armenia`s economy to face crisis if Moscow severs economic ties with  Yerevan - ex-premier Armenia`s economy to face crisis if Moscow severs economic ties with  Yerevan - ex-premier 
Acquisition of Ameriabank by BOGG PLC int`l financial group completedAcquisition of Ameriabank by BOGG PLC int`l financial group completed
Armenian service sector generated revenue of $1.2 billion in first  two monthsArmenian service sector generated revenue of $1.2 billion in first  two months
EEC: EAEU common electricity market is at high level of readinessEEC: EAEU common electricity market is at high level of readiness
Armenia`s metallurgical industry increased production volumes by 37%  in first 2 monthsArmenia`s metallurgical industry increased production volumes by 37%  in first 2 months
Idram and IDBank participated in the signing ceremony of the Declaration of Women`s Empowerment PrinciplesIdram and IDBank participated in the signing ceremony of the Declaration of Women`s Empowerment Principles
US supports building of strong transport corridor from Turkiye  to  Central AsiaUS supports building of strong transport corridor from Turkiye  to  Central Asia
EFSD contributes to modernization of Armenia`s irrigation systemEFSD contributes to modernization of Armenia`s irrigation system
ADB to issue EUR 60.09mln loan to Armenia for urban development  programmes ADB to issue EUR 60.09mln loan to Armenia for urban development  programmes 
EIB to issue EUR 25mln loan to Armenia for 2nd phase of energy  efficiency programme in Yerevan EIB to issue EUR 25mln loan to Armenia for 2nd phase of energy  efficiency programme in Yerevan 
Armenia`s clothing exports to Russia 1.5 times up Armenia`s clothing exports to Russia 1.5 times up 
Armenia needs alternative if leaves EAEU - expert Armenia needs alternative if leaves EAEU - expert 
Diagnosis from Prime Minister: Armenia`s irrigation system is deadDiagnosis from Prime Minister: Armenia`s irrigation system is dead
CECC business mission to visit Armenia  CECC business mission to visit Armenia  
Armenia joins International Solar AllianceArmenia joins International Solar Alliance
Armenian NPP to be under maintenance repair Armenian NPP to be under maintenance repair 
Brett King: Banks should be ready to implement AIBrett King: Banks should be ready to implement AI
Expert: There is no alternative to digital transformationExpert: There is no alternative to digital transformation
Arman Barseghyan: technically, Ameriabank is a digital bank Arman Barseghyan: technically, Ameriabank is a digital bank 
1.2% y-o-y inflation in Armenia`s consumer market in March 2024 was  caused by drop in food prices 1.2% y-o-y inflation in Armenia`s consumer market in March 2024 was  caused by drop in food prices 
Zakharova assures: consequences of stopping service of MIR cards in  Armenia to be higher than hypothetical damage of Western restrictionsZakharova assures: consequences of stopping service of MIR cards in  Armenia to be higher than hypothetical damage of Western restrictions
Amulsar`s development to start in late 2024 or early 2025: Babken  TunyanAmulsar`s development to start in late 2024 or early 2025: Babken  Tunyan
Armenia`s economic authorities ready to reduce size of proposed state  duty on export of gold, platinum and palladium barsArmenia`s economic authorities ready to reduce size of proposed state  duty on export of gold, platinum and palladium bars
Armenia`s government proposes new mechanism top encourage honest  taxpayers Armenia`s government proposes new mechanism top encourage honest  taxpayers 
Delay in Armenia-Georgia power line construction directly related to  Yerevan`s Delay in Armenia-Georgia power line construction directly related to  Yerevan`s "enclave policy" - professor 
4.017.648 Drams to My Forest Armenia: April Beneficiary of The Power of One Dram is 4090 Foundation4.017.648 Drams to My Forest Armenia: April Beneficiary of The Power of One Dram is 4090 Foundation
AraratBank: General Partner of Face-to-Face Regional ForumAraratBank: General Partner of Face-to-Face Regional Forum
"Ucom", "Team Telecom" and "Rostelecom" also turned off broadcast of  TV show with participation of Vladimir Solovyov
Armenia`s State Revenue Committee to tighten rules for duty-free  import of goods for personal use  Armenia`s State Revenue Committee to tighten rules for duty-free  import of goods for personal use  
CBA gives preliminary consent to purchase of Ameriabank by Bank of  GeorgiaCBA gives preliminary consent to purchase of Ameriabank by Bank of  Georgia
Government is working to diversify sales markets so as not to depend  on one market - MPGovernment is working to diversify sales markets so as not to depend  on one market - MP
Armenia intends to join electronic information exchange protocol  between tax authorities of EAEU statesArmenia intends to join electronic information exchange protocol  between tax authorities of EAEU states
Read more


Exchange rates
12.04.2024
RUB4.210.03
USD393.842.38
EUR419.32-0.72
GBP491.120.27
CAD286.450.42
JPY25.700.13
CNY54.420.33
CHF431.131.94