Yerevan, March 3, Armenpress: Armenian finance and economy minister Vartan Khachatrian and Germany’s ambassador Haike Renate Peitsch have signed today a credit agreement between Armenia and Germany, whereby the German KfW bank will give Armenia a Euro 8 million credit.
Six million of the sum will be used to support the implementation of a program for development of the mortgage market of Armenia and the 2 million will used on a community infrastructure development project. Besides, the German side will provide a euro 3.7 million grant to support the programs. The credit is given for a 40 year maturity period with a ten year grace period at 0.75 annual interest rate.
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