JAPANESE GOVERNMENT TO PROVIDE 170 MILLION YEN GRANT TO ARMENIA

NOYAN TAPAN
SEPTEMBER 7, 2009
YEREVAN

YEREVAN, SEPTEMBER 7, NOYAN TAPAN. A 170 million yen grant agreement
was signed between Japan and Armenia at the RA Ministry of Agriculture
on September 4.

According to RA Minister of Agriculture Gerasim Alaverdian, the grant
will be allocated for the purchase of farm machines (5 harvesters and
30 tractors) for communities. The minister said that since 1997, the
Japanese government has given 2 billion 600 million yens to Armenia,
with 63 harvesters and 305 tractors with their spare parts being
purchased with this sum.

Under the agreement, the government must exempt the Japanese side from
customs obligations, taxes to be paid in Armenia, as well as it must
make investments in the local currency in the amount of at least 50%
of FOB value of imported goods and transfer them to a special bank
account for the creation of a Partnership Fund.

From: Emil Lazarian | Ararat NewsPress