Allocation of German Credit Discussed

YEREVAN (Noyan Tapan)–Germany has allocated a total of approximately 40 million DM to Armenia for the past two years under different economic programs.

During the meeting of the Armenian and German government delegations on September 10–Armenia’s Minister of Economy Armen Darbinian said that the allocation of 37 million DM to Armenia by Germany for the implementation of programs to improve water-supply systems–to assist small and medium-sized enterprises and to credit agriculture was now under discussion. 2 million DM of the sum are to be allocated as a grant to render technical assistance to small and medium-sized enterprises of Armenia. 20 million DM are due to be allocated for the purpose of bettering water-supply systems in the Armavir region; 8 million DM have been earmarked for replenishing the credit resources of banks and for crediting agriculture; 3 million DM will be used for the establishment of an industrial zone in Armenia as well as for the purpose of crediting small and medium-sized businesses. The Armenian side anticipates another 7 million DM from Germany for implementing some programs in the country’s Shirak region–Darbinian added.

Negotiations will resume this weekend to end next Monday when an intergovernmental agreement is due for signature.

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