Germany to Give 25 million DM for Hydro Electric Power Station

YEREVAN (Armenpress)–An agreement on a 15 million Deutsche Mark loan was signed on Monday by the Armenian Minister of Economy and Finance Armen Darbinian–Minister of Energy Gagik Martirossian and the German Ambassador to Armenia Carola Mueller-Holtkemper within the framework of Armenian-German intergovernmental consultations.

Another agreement was signed with the Loan Bank for Reconstruction.

A 25 million Deutsche Mark loan is also to be granted for the reconstruction of the Kanaker hydro electric power station.

According to the Ambassador–the sides have also negotiated on further cooperation. Particularly–other intergovernmental negotiations are planned to be held in November–after which the Ambassador is to publish the total value of the amounts appropriated by Germany to Armenia this year.

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