YEREVAN, December 19. /ARKA/. The Central Bank of Armenia and the German bank KfW have signed a loan agreement today to the tune of 15 million euros. The funds will be used to finance the implementation of energy saving projects by micro, small and medium-sized businesses, the Central Bank said.
The placement of funds will be carried out through banks and credit institutions, which will bear the credit risk.
The micro, small and medium-sized businesses will use the money to re-equip their businesses with modern and energy-efficient equipment, the regulator said..
The agreement provides also for technical assistance. In particular, appropriate consultations will be provided to program participants.
Earlier the Armenian government and the German bank KfW signed two agreements. One was a grant agreement to the tune of 5.3 million euros to support the introduction of agricultural insurance and the second was a loan agreement to the tune of 18.5 million euros to finance the second phase of a project designed to improve the management of resources of the Akhuryan River -0-
