German government to extend 100 million euro loan to Armenia

21.01.2010 21:35
German government to extend 100 million euro loan to Armenia

YEREVAN, January 21, /ARKA/. The government of Armenia has approved today a proposal on signing a financial cooperation agreement between the governments of Armenia and Germany for 2009-2010.

A deputy finance minister Atom Janjugazian said under the agreement the government of Germany will extend a 100 million euro loan to Armenia which will be directed to support several programs.

Particularly, 20 million euros will be directed to help the mortgage market, 25 million to help upgrading of Vorotan cascade of hydropower plants. He said another 18 million will be spent on implementation of renewable energy projects and 4 million will be spent on ecological projects.  -0-


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