Armenia ratifies agreement with Germany to get €20-million loan

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Economy

19.06.2020, 10:43

The National Assembly of Armenia ratified Thursday the agreement between the governments of Armenia and Germany on financial cooperation, which implies the attraction of credit and grant funds.

Armenia ratifies agreement with Germany to get €20-million loan

YEREVAN, June 19. /ARKA/. The National Assembly of Armenia ratified Thursday the agreement between the governments of Armenia and Germany on financial cooperation, which implies the attraction of credit and grant funds.

According to Deputy Finance Minister Armen Hayrapetyan, the Armenian-German Fund (CIZ) will manage credit resources of €20 million, which will refinance projects in the field of agriculture as well as small and medium-sized businesses

As for grants, approximately €5 million will be allocated for agricultural insurance and €2 million to support agriculture. -0-

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