Armenpress
PARLIAMENT RATIFIES TWO AGREEMENTS
YEREVAN, JULY 8, ARMENPRESS: Before wrapping up an extraordinary session
today lawmakers approved a German-Armenian agreement, whereby the government
of Germany commits to allocate a 6 million euro credit to Armenia for
implementation of a renewable energy program and a 1.6 million euro grant to
back up the program technically.
The credit will be given by German KfW bank with a 40-year maturity and
10-year grace period at 0.75 percent interest rate. The money will be used
for reconstruction and repair of power plants. The parliament also ratified
another agreement between Armenia and International Development Association
(IDA) for implementation of a $20 million worth water supply and waste water
removal improvement project. This project is supposed to be accomplished by
2010.