Thursday, March 19 2020 15:52

ArmInfo. On March 19, the RA Government approved the signing of an agreement with Germany on financial cooperation. It was proposed to Armenia back in 2018.  This  is stated in the reference justification of the draft decision of the  Government of Armenia.  According to the source, within the framework  of the agreement, the German government provides an opportunity for  the Armenian government to attract loans and financial assistance for  a number of programs of the German Development Bank KfW.

In particular, under the program "Development of Renewable Energy"  Armenia can receive a soft loan of up to 20 million euros and  financial assistance for the implementation of activities in the  amount of up to 2.1 million euros, within the framework of the  program "On Biodiversity and Sustainable Local Development in  Armenia" - EUR 23.2 million of financial assistance.

Under the "Housing Financing V program Armenia'', a preferential loan  of up to 20 million euros can be provided, and financial assistance  for the implementation of activities under the program up to 375  thousand euros.

At the same time, under the agreement, Armenia has the opportunity to  receive a loan of up to 25 million euros under the program "Trade  Promotion through the German-Armenian Fund" and up to 400 thousand  euros as financial assistance for the implementation of these  measures.  The report also says that part of the above agreements has  already been signed and is under implementation.