Armenia to receive grant from German KfW Bank

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Armenia to receive grant from German KfW Bank

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Acting Minister of Finance David Sargsyan and German Ambassador to Armenia Reiner Morell today signed an intergovernmental agreement on financial cooperation. The agreement envisages further development of bilateral relations between the two countries through financial partnership and aims at to ensuring Armenia’s social and economic progress. Under the document, the German government allows the Armenian government to receive a €2.5m grant for the 3^rdstage of the community infrastructure II programme, as well as a €30m soft loan. The funds will be provided by the KfW Bank, reports the Press Service of Ministry.

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