Agreement with KfW on construction of Kaps reservoir in Armenia may be signed in September

Agreement with KfW on construction of Kaps reservoir in Armenia may be signed in September

YEREVAN, June 19. /ARKA/. The loan agreement with German KfW on construction of Kaps water reservoir in Armenia may be signed in September, the press office of the Armenian government reported referring to the premier Hovik Abrahamyan’s meeting with the German side

The meeting was attended by the German ambassador to Armenia Reiner Morell, general director of Europe and Asia affairs at KfW Roland Ziller and the head of German Society of International Cooperation (GIZ) Dagmar Bot. The sides discussed cooperation programs between Armenia and KfW.

In general, construction of reservoirs is one of the government priorities, and the respective works on four new reservoirs are expected to start in the near years.

The head of the government and Ziller stressed the importance of the construction of Armenia-Georgia electric main supported by KfW.

The premier expressed hopes that the Central Bank of Armenia and KfW will develop their cooperation into programs on apartment repairs and on small and medium-sized enterprises.

Issues on energy savings in schools, agriculture and community infrastructures have been also discussed, according to the report.

Implementation of these programs is expected to start after the sitting of Armenian-German intergovernmental commission this autumn, says the report.

Armenia’s premier Hovik Abrahamyan expressed the importance of further development of Armenian-German relations and said this cooperation is given special attention on Armenia’s foreign policy agenda.

The government will do its best for expansion of economic and political ties between the country, the premier said.

German KfW bank has been supporting implementation of programs in Armenia since 1995. The main fields of cooperation are energy, water supply, development of finance and banking and the private sector. Funding from KfW exceeded 0.5 billion euros as of October 2013. –0--

10:36 19.06.2014

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