Yerevan turns down a $40 million German loan not to increase its foreign debt; ambassador
27.04.2011,
03:55
ermany’s ambassador to Armenia, Hans Johan Schmidt, said today the official Yerevan refused to get a $40 million loan offered by Germany as part of Promotion of Renewable Energy Sources program of Armenian-German Fund.
YEREVAN, April 26, /ARKA/. Germany’s ambassador to Armenia, Hans Johan Schmidt, said today the official Yerevan refused to get a $40 million loan offered by Germany as part of Promotion of Renewable Energy Sources program of Armenian-German Fund.
The ambassador was speaking at a round table dedicated to nuclear energy issues. He said Armenian turned down the proposal in order not to increase its foreign debt.
He also said Armenia’s position is complicated because it has no markets to sell electricity surplus. He pointed out neighbouring Georgia and Azerbaijan which he said are considering a joint nuclear power plant project. The ambassador said Armenia should make conclusions from this.
‘Armenia should step up its efforts for opening of the border with Turkey because it would have then a large market to export its electricity surplus,’ he said.
The ambassador said also a German crediting organization was ready to invest in construction of electricity transmission lines between Armenia and Georgia and its possible export to Turkey. He said if this project is reconciled with all parties it may be implemented in several months. -0-
The ambassador was speaking at a round table dedicated to nuclear energy issues. He said Armenian turned down the proposal in order not to increase its foreign debt.
He also said Armenia’s position is complicated because it has no markets to sell electricity surplus. He pointed out neighbouring Georgia and Azerbaijan which he said are considering a joint nuclear power plant project. The ambassador said Armenia should make conclusions from this.
‘Armenia should step up its efforts for opening of the border with Turkey because it would have then a large market to export its electricity surplus,’ he said.
The ambassador said also a German crediting organization was ready to invest in construction of electricity transmission lines between Armenia and Georgia and its possible export to Turkey. He said if this project is reconciled with all parties it may be implemented in several months. -0-
