1 / 1

Armenia receives certain financial means from Germany with distinct purposes with the Agreement On Financial Cooperation signed between the Government of Armenia and the Government of Germany. The RA Deputy Minister of Economy Rafayel Gevorgyan informed about this during the NA regular sitting convened on April 12.

The Deputy Minister has underlined the total sum is the AMD equivalent to 116 million 400.000 Euros. 40 million out of it will be directed to the renewable energy loan, and 70 million will be directed to the loan of small and medium enterprises (SMEs) with privileged conditions.

The Agreement On Financial Cooperation between the Government of the Republic of Armenia and the Government of the Federal Republic of Germany in 2020 was signed in Berlin on October 4, 2021.

The document designs to allocate up to 3 mln Euros financial assistance for the implementation of the program Biodiversity and Sustainable Local Development in Armenia.

The NA deputy Mikayel Tumasyan presented the endorsement of the Standing (Head) Committee on Financial-Credit and Budgetary Affairs Gevorg Papoyan.