YEREVAN, October 24. /ARKA/. KfW financing in Armenia over the period of its presence in the country has exceeded 0.5 billion euros, KfW regional director for South Caucasus Lars Oeman told reporters Thursday.

The bank is effectively cooperating with the government and private sectors in Armenia, Oeman said.

The regional director stressed projects are being implemented in Armenia in full compliance with the agreements and in timely manner.

The bank has been operating in the region for quite a long time and attaches importance particularly to infrastructure projects in the region, especially in the water sector, energy and finance that are implemented in cooperation with the Central Bank and commercial banks, Oeman said.

The regional director said the bank is currently cooperating with Armenian partners over opportunities to expand the bank’s operations and the outcome will be known in January 2014.

There is no doubt about one thing – we will be active both in 2014 and 2013, the volume of funding has not been approved yet though, Oeman said.

German KfW bank has been assisting Armenia in implementation of programs as part of financial cooperation since 1995 and has had its rep office since October 1998. The main sectors the bank is engaged in is energy, water supply, development of financial and banking system and the private sector in Armenia.–0--