ArmInfo. German KfW Bank will provide Armenia with a grant of 2.7 million euros for the development of documentation for the restoration of the Kaps reservoir. The government of the Republic of Armenia approved the agreement with the Bank at the June 20 meeting. Presenting the draft decision, Minister of Territorial Administration and Infrastructures of the Republic of Armenia Suren Papikyan noted that within the framework of the agreement KfW Bank will provide Armenia with a loan of 18.5 million euros for the restoration of the Kaps reservoir, the volumes of which will be brought to 25 million cubic meters. It is also planned to modernize Kumayri water utility, through which water from the reservoir will be supplied and due to which it will be possible to irrigate additional 740 hectares of agricultural land.
To recall, earlier KfW Bank provided Armenia with a loan of 50 million euros and a grant of 2 million euros for the implementation of the Kaps reservoir modernization program on the Akhuryan River. Funds are provided for a period of 15 years with a 5-year grace period at a fixed rate.
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