Japan Provides $370mln Worth Financial Assistance to Armenia over Last
10 Years

YEREVAN, May 27. /ARKA/. Japan provided a total of $370mln financial
assistance to Armenia over the last ten years, Ambassador of Japan to
Armenia Yasuo Saito said.

After gaining independence Armenia encountered serious difficulties,
yet it makes great efforts to develop its economy and build up its
democracy and is worthy of respect, the Ambassador told a press
conference in Yerevan.

Saito stressed that the country focuses on development of energy field
and for this purpose over $300mln has been allocated to Armenia. Of it,
$250mln was the loan of the Japanese JBIC Japanese bank for
construction of a modern heat and gas energy unit of combined cycle at
Yerevan Heat Station and $52mln for improving the distributor network,
the Ambassador said.

Japan provides assistance to Armenia for development of
infrastructures, social sector, poverty reduction, personnel training,
as well as to ensure freedom of speech and democracy and development of
education.

270 Armenian specialists have been trained in Japan under technical
assistance program, the Ambassador said.-0-