JAPAN TO ALLOCATE ARMENIA $150.2 MILLION CREDIT

PanARMENIAN.Net - March 29 two Armenian-Japanese agreements were signed in the Armenian Ministry of Foreign Affairs. The first agreement provides for $150.2 million credit for the reconstruction of the energy block of the Yerevan Heat Station. The credit will be allocated for a 30-year term, the initial ten being on preferential basis. The second agreement referred to the stimulation of birth rate. Within the framework of the program Japan will allocate Armenia $1.97 million. The agreements were signed by Energy Minister Armen Movsesian and Minister of Health Protection Norayr Davidian and plenipotentiary representative of the Japanese Embassy in Moscow Tetsuo Ito. Both programs are being implemented by the Japanese government and are aimed at economic stability and development.