1 / 3

At July 7 extraordinary sitting, the NA Standing Committee on Financial-Credit and Budgetary Affairs debated the draft law on Ratifying the Agreement signed in the form of exchange of applications on setting up local offices of the German Agency for International Cooperation (GIZ) LLC and the Reconstruction Credit Institute (KFW).

The key rapporteur, the RA Deputy Minister of Economy Rafael Gevorgyan informed that the issue refers to the signing ceremony of the Agreement by the exchange of applications on setting up local offices of the German Agency for International Cooperation (GIZ) LLC and the Reconstruction Credit Institute (KFW).

According to the Deputy Ministry, it appeared to be that these two organizations, which carry out activities in Armenia, don’t have legal registration. About 12 years, discussions went on related to this, but the issue was not solved. “Actually, the issue is to give legal status to these organizations in Armenia,” the Deputy Minister clarified, adding that not having official status causes tax and other problems for the abovementioned organizations.

The Committee endorsed the draft law.