YEREVAN, December 20. /ARKA/. The Central Bank of Armenia and the German KfW Development Bank signed a loan agreement on Monday for the 3rd stage of the SME lending program, which will go along with a technical assistance.

The press service of the Central Bank said that the document was signed as part of the agreement on financial cooperation between the governments of Armenia and Germany in 2020.

The total amount of the agreement is EUR 70mln. This is the largest loan agreement signed to date between the Central Bank and KfW within the framework of Armenian-German intergovernmental cooperation.

German Ambassador to Armenia Victor Richter, Vice-Ambassador Klaus Welderberg, KfW's South Caucasus Region Director Birgit Holderid-Kress and other invited guests attended the signing ceremony. -0-