  Germany to provide Armenia with 51mln euros lax loan for repair of Vorotan hydropower plant systemOctober 20, 2010 - 19:03 AMT PanARMENIAN.Net - On October 20, Armenian Minister of Finance Tigran Davtyan and Vice President of KfW Eva Witt signed 51mln euros lax loan under the program of rehabilitation and modernization of Vorotan hydropower plant. The loan includes a grand element, under which the German government will allocate a loan for a 40-year term, with a 10-year grace period. The rest will be provided from own funds of KfW for 15 years, with a 4-year grace period. The annual interest rate of the loan makes around 2%. The program will be launched in the beginning of 2011 and completed within four years, the press service of the RA Ministry of Finance reported.   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 Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty  Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza.Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations.Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |
