YEREVAN, AUGUST 25, ARMENPRESS. The Government of Armenia approved the draft framework agreement between Armenia and the Nordic Environment Finance Corporation (NEFCO).

According to the agreement, Armenia will receive privileged loans from Scandinavian countries for environmental projects, reports “Armenpress”.

The Corporation, which includes the Governments of Denmark, Finland, Iceland, Norway and Sweden, finances dangerous emissions and energy saving projects, as well as other environmental projects.

Finance Minister of Armenia Gagik Khachatryan said the fund can include loans up to 5 mln Euros from the abovementioned states through the guarantee of the Northern Credit Agency.

These funds are for the small organizations which want to carry out projects for the benefit of the environment, but for which the ordinary loans are not available.