ArmInfo.German KfW Bank will provide Armenia 40 million euros for work done in the field of nature protection. At its meeting on December 12, the National Assembly of the Republic of Armenia discusses the agreement with the Bank submitted by the Government of the Republic of Armenia.
As the Deputy Minister of Finance of Armenia Armen Hayrapetyan noted in his speech, the agreement was signed on November 11, 2019 and is aimed at supporting the state budget. A prerequisite for budget support is the implementation of a number of environmental protection measures set forth in the "Mutual Policy Action Plans", which, in particular, relate to forestry, biological diversity and nature conservation, and the application of international environmental standards. The implementation of these preconditions is currently in its final stages, which served as the basis for the provision of funds. The loan is issued for a period of 15 years with a 5-year grace period for payments that will be made at a floating rate, which will be equal to 6-month EURIBOR + margin of 0.95%. The frequency of payments for servicing a loan is semi-annual. The outstanding loan amount is charged at 0.25% of the loan amount, which is calculated 3 months after signing the agreement. The agreement also provides for a one-time commission of 1% of the loan amount.
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