ARMENIA AND GERMANY SIGNED TWO MAJOR PROGRAMS

PanARMENIAN.Net - April 7 the Armenian government in the person of Minister of Finance and Economy Vardan Khachatrian and Germany in the person of Ambassador Extraordinary and Plenipotentiary Heike Renate Peitsch within the frames of the Armenian-German financial cooperation signed two agreements - "The program of conservancy- South Caucasus-Armenia" and "The program of contribution to use of sources of recreative energy", IA Regnum reports. Within the first program 22 million euro will be allocated to the Armenian government. According to Vardan Khachatrian it is based on the strategy of development and preservation of fauna and flora and is one of the possible fields of cooperation between Armenia, Georgia and Azerbaijan. The second program calls for a 6 million euro credit for the reconstruction, expansion and perfection of small hydroelectric stations as well as processing of solar and wind energy and a 1.5 million euro grant. In the Minister's words, an Armenian-German Foundation of Recreative Energy will be formed and headed by President of RA Central Bank Tigran Sargsian and government members. An inter-departmental commission (with the participation of German KfW Bank), which will decide on the partner-banks and small hydroelectric stations, determine the general strategy as well as keep control over the program implementation. Both programs will be launched this autumn and last for three years. Vardan Khachatrian also informed that the Foundation will receive 15 million euro for the development of small and middle business. April 17-21 the Armenian delegation will depart for Germany to outline the financial cooperation for the next 2-3 years. It should be noted that Armenia occupied the 8-th position in her consistency in fulfilling the commitments among Germany's 80 states- financial partners.