Armenia may receive 79.5 mln euros in preferential loans from KFW Bank

Banks

YEREVAN, March 13. /ARKA/. German’s KfW bank may allocate preferential loans to Armenia for supporting implementation of different programs, Finance Ministry reports to ARKA on Wednesday.

Lending within the frames of 2013 agreement on Armenian-German interparliamentary financial cooperation will stand at 79.5 million euros.

The agreement was signed yesterday by Armenia’s Finance Minister Vache Gabrielyan and German Ambassador to Armenia Reiner Morell.

The loans will be directed to supporting the agro sector (up to 15 million euros, plus 250,000 euros for necessary events), implementing the first round of the waste recycling program (up to 20 million euros), the third round of the renewable energy development program (up to 40 million euros), and the ecology program (up to 4.25 million euros).—0-

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