MISLEADING INFORMATION ON KfW’S BRANCH IN ARMENIA
Yerevan, January 11. ArmInfo. "The information that Armenia
actively negotiates with German side to open a branch of German state
development bank KfW in Armenia – as stated by an insurance information
site ForINSURER.com, does not represent the facts", Karapet Gevorgyan,
Head of the KfW Representative Office in Yerevan, told ArmInfo today.
He said that as per KfW’s regulations, the bank’s branches could
function only in Germany. However, the bank can open its representative
offices abroad to implement economic development and technical support
programs. Mr. Gevorgyan pointed out that KfW representative office
in Armenia was set up in October 1998.