KfW to extend €210M in loans and grants for Armenian projectsJune 17, 2015 - 16:46 AMT PanARMENIAN.Net - German KfW will provide a Euro 205 million soft loan and a grant of around Euro 4.8 million to Armenia for a number of programs. A relevant agreement was signed by the minister of finance Gagik Khachatryan and German ambassador to Armenia Rayner Morel in Yerevan yesterday (June 16), ARKA reports citing the press office of Armenia’s ministry of finance. The grant will be spent on implementation and coordination of a number of programs, including “Financing of housing areas, stage 4”, “Efficient energy use in micro, small and medium enterprises”, “Modernization at schools to enhance energy efficiency”, “Integrate water management on Akhuryan river, phase 2” and “Municipal structures, stage 2”. The soft loan funds will be used for implementation of the programs above, as well as “Caucasus energy union, phase 3” (high-voltage electricity lines between Armenia and Georgia). 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 | PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. Azerbaijan razes historic Armenian church to ground Azerbaijan has demolished the historic Armenian Church of St. John the Baptist (known as Kanach Zham). Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. |