GERMANY TO EXTEND 74 MLN. EURO CREDIT TO ARMENIA

PanARMENIAN.Net
25.02.2009 20:45 GMT+04:00

/PanARMENIAN.Net/ Two-day Armenian-German governmental consultations
kicked off in Yerevan on Wednesday, reported the press office of the
Armenian Ministry of Finance.

The Armenian-German cooperation has three main dimensions: financial
and private sector, energy and water supply. More modest projects
are implemented in healthcare and ecology sectors.

The current consultations will focus on the operating and planned
programs.

The 2008 cooperation agreement includes implementation of hypothec
market program (6 mln. euro), construction of Vorotan series
of hydroelectric power plants (29 mln. euro), reconstruction of
high-voltage power plant in Gyumri (14.6 mln. euro), construction
of Armenia-Georgia high-voltage power line (20.4 mln. euro),
implementation of second stage of Restoration of Community
Infrastructure program (3 mln. euro), implementation of second stage
of tuberculosis healing program (1 mln. euro).

The funds are allocated by the German government at reduced tariffs
with a 40-year term and 0,75% interest.

The amount of German assistance to Armenia has totaled 235 mln. euro,
195 mln. of which are credits and 40 mln. are grants.