Germany to issue EUR 84.6mln for accumulators for solar panels 

ArmInfo. The next meeting of the Armenian- German intergovernmental commission will be held in Berlin at the end of October, where the full range of bilateral relations will be discussed.

This was announced on October 13 at a meeting of the National Assembly's Committee on Financial, Budgetary, and Credit Affairs, by RA Minister of Economy Gevork Papoyan, who submitted a draft Armenian-German financial cooperation agreement for ratification.

According to the minister, the upcoming commission meeting will also  launch new joint initiatives. Typically, the upcoming commission  meetings have discussed Germany's financial assistance in the  development of renewable energy, energy efficiency, vocational  education, the national budget, and infrastructure.

According to Papoyan, in accordance with the 2023 financial  cooperation agreement, the two governments signed a new agreement on  March 31, 2025, under which Germany will provide Armenia with ?84.6  million, ?69 million of which will be a loan and the rest in  technical grants. The loan will be provided in several tranches: the  first of ?26 million (at an interest rate of 0.86%) and the second of  ?40 million (at a rate of 0.88% + six-month Euribor). ?26 million  will be provided by KfW for the "Development of Renewable Energy and  Energy Efficiency. Phase IV" project, along with a grant of up to ?2  million for related activities necessary for the implementation of  the aforementioned project and consulting services.

KfW will also provide a ?40 million loan for the same program, along  with a ?1 million grant for related activities necessary for the  implementation of the aforementioned program and consulting services.  However, as Papoyan noted, while loans were previously used for solar  panel installation, they will now be used for battery storage  devices.

Another important component of the project will be improving the  energy efficiency of industrial buildings.