Germany to provide Armenia with 51mln euros lax loan for repair of Vorotan hydropower plant systemOctober 20, 2010 - 19:03 AMT PanARMENIAN.Net - On October 20, Armenian Minister of Finance Tigran Davtyan and Vice President of KfW Eva Witt signed 51mln euros lax loan under the program of rehabilitation and modernization of Vorotan hydropower plant. The loan includes a grand element, under which the German government will allocate a loan for a 40-year term, with a 10-year grace period. The rest will be provided from own funds of KfW for 15 years, with a 4-year grace period. The annual interest rate of the loan makes around 2%. The program will be launched in the beginning of 2011 and completed within four years, the press service of the RA Ministry of Finance reported. 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 | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |