13:15, 22 November 2023

YEREVAN, NOVEMBER 22, ARMENPRESS. Germany will provide €84,6 million in aid in the form of grants and loans to Armenia.

The aid was announced by Germany’s Parliamentary State Secretary at the Federal Ministry for Economic Cooperation and Development, Niels Annen.

Annen is in Yerevan to participate in the first session of the Armenian-German Intergovernmental meeting.

Armenia’s Minister of Economy Vahan Kerobyan said the aid will be directed to vocational technical education and new projects in renewable energy.

Kerobyan said that trade turnover between Armenia and Germany tripled in the past three years.

The November 22 talks were the first intergovernmental negotiations between Armenia and Germany since 2014.

“I believe that this is a very clear message to the whole world that Germany and Armenia are opening a new road towards cooperation. Armenia is once again proving that it is committed to democracy, to a democratic society,” Annen added.

A separate aid is envisaged to the Armenian government for receiving and integrating the forcibly displaced persons of Nagorno-Karabakh.

Investments will be made in the renewable energy sector, which will allow Armenia to lower electricity prices.

 “We will focus on strengthening Armenia’s energy independence, which was highlighted in our cooperation negotiations,” the German official said.