TWO-DAY ARMENIAN-GERMAN INTERGOVERMENTAL CONSULTATIONS START IN YEREVAN

Noyan Tapan

F eb 25, 2009

YEREVAN, FEBRUARY 25, NOYAN TAPAN. Two-day Armenian-German
intergovernmental consultations started in Yerevan on February 25. The
participants will discuss the current and future programs.

The Armenian-German financial cooperation is focused on three
main spheres: the financial and private sectors, energy, water and
wastewater. Smaller grant projects are being implemented in healthcare
and environmental protection.

According to the Informaion and PR Unit of the RA Ministry of Finance,
under the agreement on the 2007-2008 financial cooperation between
the governments of Germany and Armenia, it is envisaged implementing
the following programs:

2nd stage of "Apartment Financing Market (Mortgage Market)" program –
6 million euros;

"Vorotan Cascade of Hydropower Plants" program – 29 million euros;

"Repairs of Gyumri-2 High-Voltage Power Plant" program – up to 14.6
million euroes;

"Construction of Armenia-Georgia High-Voltage Transmission Line"
program – up to 20.4 million euros;

"Repairs of Community Infrastructures. Stage 2: Adjacent Measures"
program – 3 million euros;

"Fight againt Tuberculosis" program Stage 2 – a 1 million dollar grant.

The German government has provided financial resources at 0.75%
interest rate, for a period of 40 years, with a 10-year grace period.

Until now Armenia has received 235 million euros (195 mln euros
as credits and 40 mln euros as grants) within the framework of
Armenian-German financial cooperation.

From: Emil Lazarian | Ararat NewsPress