YEREVAN — The German government will provide 84.6 million euros (about $92.2 million) in aid to Armenia in the form of grants and loans, Federal Ministry for Economic Cooperation and Development Niels Annen announced on Wednesday.
Speaking at a joint press conference with Armenia’s Minister of Economy Vahan Kerobian in Yerevan, Niels Annen said that “it is a clear message to the whole world that Germany and Armenia are opening a new way of cooperation.”
“Armenia has once again proven that it is committed to democracy, a democratic society,” the German official stressed.
The announcement came after two-day intergovernmental negotiations focused on developing Armenian-German cooperation that were held in Yerevan on November 21-22.
The talks were the first intergovernmental negotiations between Armenia and Germany since 2014.
A separate aid is envisaged to the Armenian government for receiving and integrating the forcibly displaced persons of Nagorno-Karabakh.
Investments will be made in the renewable energy sector, which will allow Armenia to lower electricity prices.
“We will focus on strengthening Armenia’s energy independence, which was highlighted in our cooperation negotiations,” the German official said.