Armenia to receive €152 million in assistance from Germany

YEREVAN, October 31. /ARКА/. The German government will provide €152 million in aid to Armenia, Armenian Economy Minister Gevorg Papoyan announced.

"This is the main result we achieved in Berlin at the joint meeting of the Armenian-German intergovernmental commission," he posted on his Facebook page.

The minister noted that €18 million of this amount is a non-repayable grant, and €134 million is a low-interest loan.

According to Papoyan, the entire amount will be used to develop small and medium-sized businesses, renewable energy, and water supply systems in Armenia, as well as to address a number of important economic issues.

Yesterday, a meeting of the Intergovernmental Commission on Financial and Technical Cooperation between Armenia and Germany was held in Berlin, co-chaired by Gevorg Papoyan and Niels Annen, State Secretary of the German Ministry of Economic Development and Cooperation. 

Prospects for the development of bilateral trade and economic relations were discussed, especially in the areas of trade, investment, import and export, development of micro- and medium-sized enterprises, renewable energy, sustainable urban development, water resources management, agriculture, high technology, tourism and other areas.-0-