EDB approves $40 mln loan to improve irrigation systems in ArmeniaOctober 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 | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |