Germany to Provide Aid Package to Armenia

YEREVAN (Azg)–According to an agreement signed Wednesday between representatives of the Armenian and German governmen’s–Germany will provide an aid package of DM40 million for the upcoming fiscal year.

Deputy Minister of Finance and Economy Edward Muradian said that 27.5 million of the monetary allocation will be provided for the restoration of the energy system; 6 million will be used as loans for the development of private businesses– through various banks.

Another 5 million will be used for the development of communal substructures; 1.5 million will be provided to the experts fund for further investigations and providing of consulting services to Armenian companies.

Muradian said that separate agreemen’s will be signed for each of the mentioned monetary allocations.

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