Germany to provide Armenia with 51mln euros lax loan for repair of Vorotan hydropower plant systemOctober 20, 2010 - 19:03 AMT PanARMENIAN.Net - On October 20, Armenian Minister of Finance Tigran Davtyan and Vice President of KfW Eva Witt signed 51mln euros lax loan under the program of rehabilitation and modernization of Vorotan hydropower plant. The loan includes a grand element, under which the German government will allocate a loan for a 40-year term, with a 10-year grace period. The rest will be provided from own funds of KfW for 15 years, with a 4-year grace period. The annual interest rate of the loan makes around 2%. The program will be launched in the beginning of 2011 and completed within four years, the press service of the RA Ministry of Finance reported. 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, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |