GERMANY ALLOCATES 3,9 MILLION EUROS TO ARMENIA FOR CREATING DEPOSIT GUARANTEEING SYSTEM

YEREVAN, JUNE 17, NOYAN TAPAN. The German Government will provide
to Armenia a credit of 3,5 million euros and a grant of 400 thousand
euros for the purpose of creating a deposit guaranteeing system. The
agreements on the credit and the grant will be signed between RA
Minister of Economy and Finance, the German bank KfW and the Armenain
Fund for Guaranteing Deposits. According to the RA Government’s
Department of Information and Public Relations, the credit will be
provided to Armenia for 30 years (2015-2045) at an annual interest
rate of 0.75%.