YEREVAN, December 19. /ARKA/. The Armenian government and German Development Bank (KfW) signed two agreements on Monday as Karen Karapetyan, Armenian prime minister, meet with German Development Bank (KfW) Regional Director Olaf Zimelka.

Under these agreements, Armenia will receive €5.3 million as grant for supporting insurance schemes for agricultural products and another €18.5 million as loan for implementing the second stage of the program of management of water resources/Akhuryan River I.

The program targeted by the first agreement is unique – the two countries’ governments for the first time will cooperate with Armenia’s agriculture sector, covering weather-caused risks.
Armenia’s co-financing amounts to €5 million.

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Armenia’s State Pension Service, a unit of Labor and Social Security Ministry, said it has signed agreements with 13 local commercial banks which will pay pensions to retirees.

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On Tuesday, Jean-Michel Happi, head of the World Bank’s office in Yerevan, signed three loan agreements with Vache Gabrielyan, Armenian finance minister, as part of the credit package of the 2009-2012 policy of strategic partnership with Armenia, the finance ministry’s press office reports.

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The German KfW bank will sign two loan agreements with Armenian Central Bank and ministry of finance, worth 50 million euros, Karapet Gevorkian, KfW representative in Armenia, told in an interview with ARKA.

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