Central bank chairman to attend german -armenian fund supervisory board meeting

15.03.2012 13:16
Central bank chairman to attend german -armenian fund supervisory board meeting

YEREVAN, March 15. /ARKA/. The chairman of the Central Bank of Armenia, Arthur Javadyan,  has left for Frankfurt in Germany to attend a meeting of the supervisory board of the German-Armenian Fund, scheduled for March 15-16 in, the Central Bank told ARKA today.
The meeting will discuss the status of several credit programs funded by the German bank KfW (Kreditanstalt fur Wiederaufbau), as well as German-Armenian cooperation in the financial sector. The press service of the Central Bank said Javadyan will also meet with leaders of a number of financial institutions.
The German bank KfW has been providing assistance to Armenia in the implementation of programs as part of financial cooperation since 1995. It opened a representation here in October 1998. The main areas of its activities in Armenia are energy, drinking water and sanitation, as well as development of financial and banking systems and private sector. To date as part of Armenian-German financial cooperation the German Development Bank KfW has provided Armenia with a total of 400 million euro worth assistance.
The German-Armenian Fund was established in 1998 by the governments of Armenia and Germany on the basis of an agreement on financial cooperation to support small businesses in Armenia. -0-


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