Germany To Allocate 7.5 Mln Euros For Crediting Small Hydro-ElectricPower Stations

YEREVAN, APRIL 8, NOYAN TAPAN. The German government will allocate a
6 mln-euro concessionary loan and a 1.5 mln-euro grant as long-term
credits for Armenia's small private hydro-electric power stations
(HEPS). This is envisaged by the restored energy sources use
assistance program, regarding which an agreement was signed on April
7 by the RA Minister of Finance and Economy Vardan Khachatrian and
the German Ambassador Extraordinary and Plenipotentiary to Armenia
Heike Renate Peitsch. V. Khachatrian stated at a press conference
on the same day that a German-Armenian Fund on Restored Energy will
be launched for the program management. It is also planned to set
up a interdepartmental commission to control the implementation and
strategy of the program. According to the minister, the amount will
be allocated to the fund that will use it for recrediting the partner
banks to be chosen through tender.