YEREVAN, March 20. /ARKA/. The Armenian National Assembly on Wednesday ratified an agreement between the governments of Armenia and Germany, whereby the latter will provide a 12 million euro loan for the development of renewable energy.
The loan will be granted with a grace period of 7 years and 0.9% interest rate. It should be repaid until 2043 at.
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.
Under the program, solar plants with a capacity of up to 500 kW will be built for legal entities, up to 150 mW for individuals, and 1 mW for autonomous groups.-0-
