French Development Agency to allocate € 75 mln loan to ArmeniaNovember 26, 2015 - 13:54 AMT PanARMENIAN.Net - The Armenian government and the French Development Agency will sign a € 75 million loan agreement to finance the construction of Vedi reservoir, Panorama.am reports. According to Finance Minister Gagik Khachatryan, the project will help ease water scarcity in Ararat plain, as well as switch to automatic irrigation systems, which will, in turn, lead to energy savings. “The loan envisages a 20-year maturity date, including a 6-year grace period,” Khachatryan said. Prime Minister Hovik Abrahamyan said the government has declared the reservoir construction a key priority sector, ordering the heads of the agencies in charge to manage the technical part of the work as soon as possible to start the construction in February-March, next year. 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 | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |