Germany to Allocate 40 Million Marks in Credit to Armenia

YEREVAN (Noyan Tapan)–Intergovernmental negotiations were held between Armenia and Germany Nov. 5-7 in Bonn.–in which the two countries signed an agreement which will call for Germany to allocate 40 million marks worth of credit to Armenia –and provide 780,000-marks worth of aid as well.

During an August meeting between the two sides–energy production was a key topic of discussion–and towards that effect–the German government has also agreed to promote the establishment of a power system in Armenia autonomous and independent from neighboring states.

Germany will also help restore the economic infrastructures of Armenian communities–in particular–the water supply and sewerage systems that were partially damaged in the 1988 earthquake.

The creation of jobs and the launching of small and medium- sized business enterprises were also key points discussed during the Nov. meetings.


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