ARMENIA AND GERMANY TO SIGN FINANCIAL COOPERATION AGREEMENT

YEREVAN, MAY 15, ARMENPRESS:Armenian Minister of Finance, Tigran Davtian, and Germany’s ambassador to Armenia, Andrea Wiktorin, will sign on May 16 an agreement between the governments of the Republic of Armenia and the Federal Republic of Germany on financial cooperation in 2007-2008. The German embassy in Armenia told Armenpress that representatives of both governments discussed the agreement in 2007 autumn, which, like the core agreement are the result of a longtime and close cooperation between the two countries based on mutual confidence. The embassy said the reconciled and ongoing Armenian-German cooperation extends from energy programs to community infrastructures rehabilitation, boosting private and financial sectors, as well as support to health sector. Overall, some 74 million euros in extra aid were allocated to Armenia by Germany over the last two years. In terms of bilateral relations Germany is the second largest partner of Armenia after the USA. It allocated to Armenia a total of 265 million euros within the frameworks of cooperation development policy.