KfW to promote mortgage market development in ArmeniaMay 5, 2009 - 21:50 AMT PanARMENIAN.Net - CBA Chairman Arthur Djavadyan will participate in the German-Armenian Foundation's (GAF) Council Session scheduled for Frankfurt on May 6-7. GAF Observers' Council convenes its sessions in Armenia and Germany twice a year.According to Mr. Djavadyan, discussion will focus on KfW allocations (20 million Euros) aimed at mortgage market development. "Session will be devoted to small and medium enterprise development and KfW credits, of which 20 million Euros will be spent on mortgage market development and 10 million Euros will be spent for development of renewable energy resources," Mr. Djavadyan stressed. The German-Armenian Foundation (GAF) was established in 1998 under a German-Armenian financial cooperation agreement. The German side implemented the project on behalf of Ministry of Economic Cooperation and Development (BMZ) while the Armenian side acted on behalf of CBA. 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 | Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. Armenian Foreign Minister regrets “tragic loss” of Iranian counterpart The Armenian Foreign Ministry has expressed shock over the death of the Iranian President and the Minister of Foreign Affairs. Armenian PM sends condolences to Iran Prime Minister Nikol Pashinyan sent a message of condolence to the Supreme Leader Seyyed Ali Khamenei. |