YEREVAN, March 16, /ARKA/. Armenian finance minister Tigran Davtian and Germany’s ambassador to Armenia, Hans-Johan Schmidt will sign today in Yerevan an agreement on financial cooperation between the two countries for 2009-2010.

The German embassy in Yerevan told ARKA that under the agreement Germany commits to provide Armenia with EURO 105.5 million assistance within the frameworks of bilateral cooperation.

Besides, Germany will provide EURO 12 million for implementation of regional projects as part of Caucasian Initiative program.

‘The signing was preceded by active inter-governmental talks in 2009 summer, which, like the agreement, are evidence of close and confidence-based cooperation, established between the two countries during many years of development policy,’ a statement by the embassy said.

It said the frames of defined and ongoing projects embrace environmental problems, steady economic development projects as well as support for renewable energy and community infrastructure projects.

‘The continued efforts of Germany are aimed at improving living conditions in Armenia, as well as enhancing economic progress of the country and surmounting transitional difficulties,’ it said.

Since 1995 when Armenia and Germany began their financial cooperation, Germany has provided Armenia with EURO 220 million loans and grants. -0-