Germany to assist Armenia with more than EUR 100 million

YEREVAN, DECEMBER 24, ARMENPRESS: Germany will provide Armenia with EUR 15 million bailout for Sustainable Economic Development plan and about EUR 75 million for construction of Armenia-Georgia high-voltage transmission line substations. Armenpress reports this was noted by Armenian Minister of Finances Vache Gabrielyan during a conference.

He informed that another EUR 40 million would be allocated for implementation of the third phase in the development of renewable energy, EUR 18.5 million for Akhuryan Integrated Water Resources Management.

“The agreement was reached on November 14-15 in frames of Armenian-German interstate session on financial and technical cooperation,” Minister said.

When speaking about Armenian-American interstate session on economic issues Gabrielyan informed that it brought to the final phase of the protocol including negotiations on facilitation of visa regime, list of issues of tax and customs sphere, civil aviation, energy, health and agriculture.