Armenia to receive a 75-mln-euro credit from Germany for economy development

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Economy

14.11.2012, 16:54

Germany will allocate a 75- million- euro credit to Armenia within the framework of the financial cooperation agreement, Armenia’s Finance Ministry said Wednesday.

Armenia to receive a 75-mln-euro credit from Germany for economy development

YEREVAN, November 14. /ARKA/. Germany will allocate a 75- million- euro credit to Armenia within the framework of the financial cooperation agreement, Armenia’s Finance Ministry said Wednesday.

The agreement will be signed on Wednesday following the meeting of the Armenian-German intergovernmental commission on financial and technical cooperation, according to the source.

The Armenian side will be chaired by Atom Janjugazyan, a deputy finance minister and the main treasurer of the republic. Director general at Germany’s Ministry of Economic Cooperation and Development Andreas Gies will coordinate the delegation from Germany.

“The parties will discuss the issues related to the bilateral cooperation in economy, energy, environment, community development and law,” according to the Ministry.

The sides are also expected to sign a protocol on Germany’s 4.5-million-euro grant to Armenia.

Armenia and Germany may also sign an agreement implying financial assistance to Armenia within “Support program for protected areas in the Caucasus” (the third stage for Armenia- 4,250 million euros). -0-

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