ArmInfo. The government of the Federal Republic of Germany will provide loans for grants to Armenia in the amount of 88.2 million euros. The Parliamentary Commission on Financial-Credit and Budgetary Issues at the meeting on September 8 issued a positive conclusion on the Armenian-German agreement on financial cooperation.
According to Deputy Minister of Economy of the Republic of Armenia Varos Simonyan, cooperation between Armenia and Germany is mainly carried out within the framework of a framework agreement. The terms of the previous agreement, calculated for 2014-2018, expired, and for this reason, on April 7, 2020, a new agreement was concluded, calculated for 2018-2022. The new document has several components. In particular, for the implementation of the program of biodiversity and sustainable development of territories, Germany will provide Armenia with a loan of 23 million euros. The second component concerns renewable energy, for which 20 million euros will be allocated. The third component concerns the improvement of living conditions, and for this purpose it is planned to use 20 million euros. The fourth program, trade facilitation, will receive 25 million euros. However, as the Deputy Minister noted, if there are signed documents on the first three components, then negotiations on the fourth are still ongoing. Each loan program also includes a grant component.
