Thursday, June 20 2024 12:54
Alexandr Avanesov

Armenian government, KfW to extend loan programme 

Armenian government, KfW to extend loan programme 

ArmInfo.The Government of the Republic of Armenia and the German bank KfW will extend the  implementation of the program "Integrated management of water resources of the Akhuryan River" until December 30, 2026. At a meeting on June 20, the Cabinet of Ministers of Armenia approved the  signing of a letter of agreement with the Bank.

As noted in the rationale for the draft decision, the agreement on  the implementation of the program was signed in 2014. As of December  19, 2023, of the 50 million euros provided for in the loan agreement,  about 41.9 million euros are available for the construction of the  Kaps reservoir.  However, due to the high bid of 61.5 million euros  (excluding contingencies and taxes) received as part of the tender  for civil works for the construction of the Cape Reservoir and  auxiliary structures, in agreement with the German Federal Ministry  for Economic Cooperation and Development, it was decided to fill the  shortfall financing the construction of the reservoir with funds in  the amount of 17.4 million euros, and the rest of 2.2 million euros  will be covered by co-financing from the Government of the Republic  of Armenia. Construction is scheduled to be completed in the second  quarter of 2026, and several more months will be required for  testing, detection of defects, and paperwork.

The Kaps reservoir under construction is located in the Shirak  region, 22 km north of the city of Gyumri, in the valley of the  Akhuryan River.

The program, with a budget of 60 million euros (50 million euros loan  funds), is financed by the government of Armenia and the German bank  KfW. The loan agreement came into force on June 29, 2019, the  deadline for using the funds was set until December 30, 2019, but was  then extended until June 30, 2024. At the first stage of the  "Combined Water Resources Management/Akhuryan River, Stage 1"  program, it is planned to build a reservoir with a capacity of 25  million cubic meters of water.  

At the second stage it is planned to increase the cubic capacity to  60 million cubic meters. The project involves the construction of  auxiliary structures for the Cape Reservoir dam, equipping  hydrological observation points of the Akhuryan River (from the Arpi  reservoir to the Akhuryan reservoir), the construction of additional  stations, and the creation of a centralized database (SCADA system).   Completion of the construction of the dam and auxiliary structures  will primarily ensure the safety of settlements in the lower reaches  and increase the level of water supply to lands with an area of  12,325 hectares in the Shirak region and on the right bank of the  Akhuryan reservoir. 

It will be possible to replace mechanical irrigation of 2,280  hectares of land with gravity irrigation, which will save 1.3 million  kWh of electricity per year. As a result of regular irrigation,  agricultural production will increase, and the installation of a  reliable water metering system will improve the level of water  management and monitoring.  

POST A COMMENT
Input digits     


News
More families to benefit from IVF programme in Armenia More families to benefit from IVF programme in Armenia
EBRD to issue EUR 2mln grant to Armenia for FEA center in Sisian
Armenia`s cabinet approves $200mln loan for Kajaran tunnel  construction Armenia`s cabinet approves $200mln loan for Kajaran tunnel construction
Armenia to attract $100mln from EFSD to cover budget deficit Armenia to attract $100mln from EFSD to cover budget deficit
"Veolia Jur" responded to Yerevan Mayor`s Advisor Kamo Areyan
Sanosyan got acquainted with construction progress of roads bypassing  KirantsSanosyan got acquainted with construction progress of roads bypassing Kirants
The mayor`s office proposed the government to reconsider the  agreement with Veolia JurThe mayor`s office proposed the government to reconsider the agreement with Veolia Jur
France`s potential for construction of new NPP in Armenia discussed France`s potential for construction of new NPP in Armenia discussed
Iranian companies to carry out construction on 32km-long section of  Kajaran-Agarak road Iranian companies to carry out construction on 32km-long section of Kajaran-Agarak road
Gevorg Papoyan met with UNDP Permanent Representative Natia  Natsvlishvili Gevorg Papoyan met with UNDP Permanent Representative Natia Natsvlishvili
Know the penalties for late personal income tax filing Know the penalties for late personal income tax filing
Foreigners` transactions on buying and selling property reduced in  ArmeniaForeigners` transactions on buying and selling property reduced in Armenia
Land purchase and sale transactions in regions of Armenia increased  by 12.7%Land purchase and sale transactions in regions of Armenia increased by 12.7%
4.1% rise in housing prices in Yerevan in first half of 20244.1% rise in housing prices in Yerevan in first half of 2024
Armenia`s minister of territorial administration visits Masrik-1  solar stationArmenia`s minister of territorial administration visits Masrik-1 solar station
Domestic debt forming part of government`s debt exceeds foreign debt  for first timeDomestic debt forming part of government`s debt exceeds foreign debt for first time
UNDP programme: warm houses, less expensesUNDP programme: warm houses, less expenses
Ministry of High-Tech Industry supports Team Telecom Armenia Ministry of High-Tech Industry supports Team Telecom Armenia
Armenian-United Arab Emirates business forum to take place in Abu  DhabiArmenian-United Arab Emirates business forum to take place in Abu Dhabi
IDBank continues the IDBank continues the "By Your Side" Program
Armenian ambassador to Greece highlights importance of Armenia`s  active participation in TIF-HELEXPOArmenian ambassador to Greece highlights importance of Armenia`s  active participation in TIF-HELEXPO
Air Arabia plans to sue Armenia at ArbitrationAir Arabia plans to sue Armenia at Arbitration
EFSD conducts workshop on procurement and financial management of  projects EFSD conducts workshop on procurement and financial management of  projects 
Iran-Armenia high-voltage line to be put into operation in few months  - ambassadorIran-Armenia high-voltage line to be put into operation in few months  - ambassador
New Armenal management could start presale preparation New Armenal management could start presale preparation 
Our team is doing everything possible to manage increased traffic  more efficiently - ZvartnotsOur team is doing everything possible to manage increased traffic  more efficiently - Zvartnots
CBA to direct 80% of its annual profit to partly cover interest-free  bill of exchange  CBA to direct 80% of its annual profit to partly cover interest-free  bill of exchange  
Few concerned in Armenia over high pesticide level in food - NGO head Few concerned in Armenia over high pesticide level in food - NGO head 
Head of Economic Competition Protection Commission explains gas price  rise Head of Economic Competition Protection Commission explains gas price  rise 
EFSD to provide $2 mln grant to Armenia for program to improve  quality of financial reporting of public sector organizationsEFSD to provide $2 mln grant to Armenia for program to improve  quality of financial reporting of public sector organizations
WB to provide $110mln loan to Armenia for universal health coverage WB to provide $110mln loan to Armenia for universal health coverage 
Ingo Insurance presents job loss insurance in Armenia`s market Ingo Insurance presents job loss insurance in Armenia`s market 
As long as Pashinyan government remains in power in Armenia, it is  unlikely Armenia will launch a counter bid or join BRICS  - opinion As long as Pashinyan government remains in power in Armenia, it is  unlikely Armenia will launch a counter bid or join BRICS  - opinion 
Cattle productivity improvement programme to be launched in Armenia Cattle productivity improvement programme to be launched in Armenia 
South Caucasus needs unified market without strategic partners -  expert South Caucasus needs unified market without strategic partners -  expert 
New world order to show Armenia can and must cooperate with with all  nations - Tatul Manaseryan New world order to show Armenia can and must cooperate with with all  nations - Tatul Manaseryan 
Armenia needs 600MW NPP - ex-premier Armenia needs 600MW NPP - ex-premier 
Post of Russia considering possibility of mailing to Armenia via  North Ossetia  Post of Russia considering possibility of mailing to Armenia via  North Ossetia  
Advantages of franchising discussed in Armenia with Acba Bank`s  participation Advantages of franchising discussed in Armenia with Acba Bank`s  participation 
Czech Republic to assist modernization of Yerevan metro Czech Republic to assist modernization of Yerevan metro 
Wine output records 32.6% y/y decline in Jan-May Wine output records 32.6% y/y decline in Jan-May 
ICC NCA to assist organization of WCIT2024 in Armenia ICC NCA to assist organization of WCIT2024 in Armenia 
New social vulnerability assessment system to be introduced in  Armenia New social vulnerability assessment system to be introduced in  Armenia 
Armenia`s government to provide AMD 2.2bln to construction  organizations Armenia`s government to provide AMD 2.2bln to construction  organizations 
AMD 4․046․161  to the Strong Mind NGO. July`s beneficiary is the SIA Armenia programAMD 4․046․161 to the Strong Mind NGO. July`s beneficiary is the SIA Armenia program
Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4
Ardshinbank was again Named Best in Two Categories by Asian Banking & Finance MagazineArdshinbank was again Named Best in Two Categories by Asian Banking & Finance Magazine
Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official 
China Southern Airlines launches Urumqi - Yerevan - Urumqi flights China Southern Airlines launches Urumqi - Yerevan - Urumqi flights 
Get 3000 idcoins by synchronizing your Idram and IDBank accountsGet 3000 idcoins by synchronizing your Idram and IDBank accounts
Armenia`s involvement in regional projects emphasized Armenia`s involvement in regional projects emphasized 
Armenian Airlines launches Yerevan-Ufa-Yerevan flightArmenian Airlines launches Yerevan-Ufa-Yerevan flight
Unemployment up in Armenia Unemployment up in Armenia 
Armenia`s economy vulnerable to external shocks - EFSDArmenia`s economy vulnerable to external shocks - EFSD
EAEU Industrial Council considers robotics development programme EAEU Industrial Council considers robotics development programme 
Smart Place: smart solutions for comfort and energy-savingSmart Place: smart solutions for comfort and energy-saving
Russia among Armenia`s major trade partners - Gevorg Papoyan  Russia among Armenia`s major trade partners - Gevorg Papoyan  
Armenia, UAE discuss possibilities of agricultural cooperation Armenia, UAE discuss possibilities of agricultural cooperation 
Expert on `blank spots` of budget planning in Armenia Expert on `blank spots` of budget planning in Armenia 
Armenia`s economy minister to take part in 6th meeting of EAEU  Industrial Policy CouncilArmenia`s economy minister to take part in 6th meeting of EAEU  Industrial Policy Council
Read more
Exchange rates
24.07.2024
RUB4.450.03
USD388.390.48
EUR421.09-0.26
GBP501.260.78
CAD281.69-0.22
JPY25.130.27
CNY53.370.04
CHF437.972.70