Government approves 15 million euro grant agreement with German KfW bank to finance community infrastructure program

Government approves 15 million euro grant agreement with German KfW bank to finance community infrastructure program

YEREVAN, April 17. / ARKA /. The Armenian government has approved today a 15 million euro grant agreement with the German KfW bank to finance the third phase of the Second Community Infrastructure Program. Acting finance minister David Sarkisian explained that the money will be used to carry out water supply projects which should ensure the full restoration of internal and external water supply networks of Gyumri and Vanadzor and a round the clock water supply. The head of the State Water Committee Andranik Andreasyan specified that 12 million euros will be provided as an investment grant and 3 million as a technical assistance grant. The German KfW has been assisting Armenia in the implementation of various projects since 1995. The bulk of its assistance is channeled into energy, water, financial, banking and also private sectors. -0-

16:25 17.04.2014

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