 EDB approves $40 mln loan to improve irrigation systems in Armenia October 17, 2015 - 11:35 AMT PanARMENIAN.Net - Minister of Finance Gagik Khachatryan and Chairman of the Management Board of Eurasian Development Bank Dmitry Pankin signed Friday, October 16, an agreement on a $40 million investment loan for Armenia. Provided from Eurasian Economic Community’s Anti-Crisis Fund, the loan will help implement a program of modernization of irrigation systems and the development of institutional capacities of water consuming units. The program also plans to raise the efficiency of irrigation systems, expand the area of irrigated lands, as well as develop managerial capacities. The program consists of 4 main components: replacement of mechanical irrigation with gravity irrigation, restoration of ditches, modernization of in-house irrigation systems of water consuming units and development of institutional capacities of water consuming units. Provision of stable and quality water supply for agricultural purposes, as well as the development of institutional capacities will substantially boost the development of agriculture, growth in export of agricultural products, at the same time creating new jobs, the Ministry said in a statement.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Biden honors resilience of Armenian people on April 24  U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide.Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan.Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says.Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |
