GERMANY - ARMENIA'S SECOND LARGEST DONOR AFTER US

PanARMENIAN.Net - Germany has become Armenia's second largest donor after the United States of America, German Ambassador Extraordinary and Plenipotentiary to Armenia Dr. Heike Renate Peitsch stated in an interview with PanARMENIAN.Net In her words, thus far the German Government has committed a total of about 169,5 million € for the economic cooperation with Armenia. She noted that since Armenian independence our both countries have developed very friendly and intense relations in all relevant fields. The main projects of the Technical Cooperation are such as promotion of Small and Medium Enterprises as well as of Local Authorities. The German-Armenian Financial Cooperation includes three main sectors: the energy sector, the rehabilitation of communal infrastructure (water supply and waste water systems) and the promotion of financial and private sector. As a result of the bilateral negotiations in April 2005 in Bonn an amount of 27 million € has been allocated for the biannium 2005/2006. When responding to the question referring to possible joint economic or tourism programs, the Ambassador mentioned of some very promising German investments in Armenia. "German companies are examining or preparing a stronger engagement in Armenia. But let me stress the fact that it is the responsibility of the Armenian government to create a friendly environment for foreign investments e.g. by a transparent legal system", she added.