YEREVAN, March 15. /ARKA/. The Armenian Parliament intends to ratify the agreement on financial cooperation between the governments of Armenia and Germany, signed in 2022.

The ratification was approved today by the National Assembly Committee on Budget and Fiscal Affairs.  

Deputy Minister of Economy Rafael Gevorgyan said that in accordance with the agreement Germany will provide a 12 million euro preferential loan for the development of the renewable energy sources.

The loan will be granted with a grace period of 7 years and 0.9% interest rate. It should be repaid until 2043 at.

He noted that this loan is not provided to the government, but to the private sector through the German-Armenian Fund operating under the Central Bank of Armenia. -0-