German GIZ and KfW set to open offices in Armenia

YEREVAN, MARCH 2, ARMENPRESS. The German Agency for International Cooperation (GIZ) and the KfW Development Bank will open country offices in Armenia.

The ceremonial signing of the agreement regarding the establishment of the offices took place on March 2 in Yerevan. The document was signed by the Armenian Minister of Economy Vahan Kerobyan and the German Ambassador to Armenia ViktorRichter.

Kerobyan said the offices are going to have the status of diplomatic offices and the agreements have to be ratified by the parliament.

The Economy Minister described the event as “meaningful” given that it took place during the Armenian Prime Minister’s visit to Germany. “These two events show how much we appreciate the relations between Armenia and Germany, which are developing very actively,” Kerobyan said.

He described the GIZ and KfW as one of the most active organizations in Armenia. KfW is the largest lender in the Armenian economy, he said, mentioning the two major ongoing projects – the construction of the Kaps reservoir and the power transmission line to Georgia.

Kerobyan also appreciated GIZ for its major support in agriculture, tourism and innovation.