ArmInfo.The German government will provide Armenia with 116 million 400 thousand euros for the social and economic development of the Republic of Armenia. On December 23, the Armenian Cabinet of Ministers approved the draft law "On ratification of the Agreement between the Government of the Republic of Armenia and the Government of the Federal Republic of Germany on financial cooperation for 2020".
According to the source, the Agreement was signed on October 4, 2021 in Berlin. The Agreement provides an appropriate legal framework that is the basis for individual financing or loan agreements, as well as cooperation between the parties.
The Agreement provides for the provision of 116 million 400 thousand euros to the Armenian side for the socio-economic development of the Republic of Armenia. In particular, 3 million euros will be allocated for the implementation of the Biodiversity and Sustainable Local Development - Armenia Project; financial assistance in the amount of 40 million euros will be provided by the Development of renewable energy sources (Phase II) Program under the German Climate Technology Initiative (DKTI) within the framework of the development of public policy of the German KfW Development Bank. Another 70 million euros will be allocated for the implementation of the Stimulation of small and medium-sized enterprises - III Program and 3 million 400 thousand euros - to finance the necessary accompanying activities aimed at technical assistance and the implementation of the above two projects.
The Agreement is a framework within which separate financing or loan agreements will be signed in accordance with the aforementioned programs.
