YEREVAN, December 17. /ARKA/. On Thursday, Armenia's government gave its approval to signing of a €75-million loan agreement with the French Development Agency.

The government says the money will be spent on improvement of the Vedi Water Reservoir.

«The implementation of the program will mitigate the water-supply problem in Ararat Valley and will allow transition from mechanical irrigation to gravity-flowing irrigation,» the government says in its draft decision.

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The French Development Agency has provided Armenia with a 500 thousand euro grant for preparation of a number of infrastructure projects, the press service of the Armenian ministry of finance said

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