EDB approves $40 mln loan to improve irrigation systems in ArmeniaOctober 17, 2015 - 11:35 AMT PanARMENIAN.Net - Minister of Finance Gagik Khachatryan and Chairman of the Management Board of Eurasian Development Bank Dmitry Pankin signed Friday, October 16, an agreement on a $40 million investment loan for Armenia. Provided from Eurasian Economic Community’s Anti-Crisis Fund, the loan will help implement a program of modernization of irrigation systems and the development of institutional capacities of water consuming units. The program also plans to raise the efficiency of irrigation systems, expand the area of irrigated lands, as well as develop managerial capacities. The program consists of 4 main components: replacement of mechanical irrigation with gravity irrigation, restoration of ditches, modernization of in-house irrigation systems of water consuming units and development of institutional capacities of water consuming units. Provision of stable and quality water supply for agricultural purposes, as well as the development of institutional capacities will substantially boost the development of agriculture, growth in export of agricultural products, at the same time creating new jobs, the Ministry said in a statement. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |