Expansion of infrastructure programs in Armenia discussed by RA Deputy Prime Minister with KfW bank delegation
YEREVAN, June 6. /ARKA/. Programs in the field of irrigation and energy in Armenia were discussed by Armenian Deputy Prime Minister Tigran Khachatryan at a meeting with a delegation of the German KfW bank headed by the Bank's Regional Director for Eastern Europe, Central Asia and the Caucasus Veronica Garcia del Arco.
According to the press service of the RA government, Khachatryan noted the importance of large infrastructure projects implemented with the support of KfW in the energy and water sectors in the context of the ongoing development of cooperation between Armenia and Germany.
The interlocutors discussed the current program framework, in particular, the progress of construction of the Cape reservoir and the gravity irrigation system, as well as the construction of the Caucasus power transmission network. An exchange of views also took place on possible areas for expanding bilateral cooperation.
About the Kaps Reservoir
The agreement on the construction of the Kaps Reservoir in the Shirak region was signed between the Government of Armenia and the German KfW Bank in April 2023. The project budget is 97.8 million euros, of which 68.5 million euros is a loan from KfW, the rest is co-financed by the Government of Armenia.
The volume of the Kaps Reservoir will be about 60 million cubic meters, thanks to which it is planned to establish irrigation of about 17 thousand hectares of land, replace mechanical irrigation of 2280 hectares of land with gravity irrigation, which will save 1.3 million kWh of electricity per year.
About KfW
The German bank KfW (Kreditanstalt für Wiederaufbau) works to ensure economic and social progress in developing countries and countries with economies in transition in order to improve the standard of living of society. Its shareholders are the Government of Germany and the administrative-territorial units of the country.
KfW has been operating in Armenia since 1998, implementing financial programs in the areas of lending to micro, small and medium-sized enterprises, energy, infrastructure and municipal management.
