Armenia's Central Bank and the German KfW Development Bank on Tuesday, December 19 signed a €15 million loan agreement for the financing of energy efficiency projects of micro, small and medium-sized enterprises.

The credit will enable those enterprises to acquire more energy efficient and up-to-date equipment.

In the framework of the cooperation, technical assistance measures will also be taken to provide consultation to program beneficiaries.

The allocation of the credit resources will be implemented through commercial banks and credit organizations which will bear all the risks related to the process.