KFW GERMAN BANK PROVIDED A 18-MILLION EURO CREDIT AND 1.5-MILLION GRANT TO THE CENTRAL BANK OF ARMENIA WITHIN RENEWABLE ENERGYAID CREDITING PROGRAM

PanARMENIAN.Net
May 3, 2010 – 14:43

German government intends to finance unprecedented number of
infrastructural projects in Armenia.

KfW German bank provided a 18-million euro credit and 1.5-million
grant to the Central Bank of Armenia within Renewable Energy Aid
crediting program. A relevant agreement was signed Monday between KfW
first vice-president Roland Siller and CBA president Arthur Javadyan.

As Mr. Siller emphasized, the German government intends to finance
unprecedented number of infrastructural projects in Armenia. 14
hydropower stations have been already funded in the framework of
Renewable Energy Aid crediting program.

As of today, financing of Armenian renewable energy sector grosses
AMD 24.5 billion.