BERLIN — The German government will provide €152 million in aid to Armenia, Armenian Economy Minister Gevorg Papoyan announced.
“This is the main result we achieved in Berlin at the joint meeting of the Armenian-German Intergovernmental Commission,” he wrote on his Facebook page.
Papoyan noted that €18 million of the total amount is a non-repayable grant, while €134 million is a low-interest loan. The funds will be directed toward developing small and medium-sized enterprises, renewable energy, and water supply systems in Armenia, as well as addressing several key economic challenges.
A meeting of the Intergovernmental Commission on Financial and Technical Cooperation between Armenia and Germany was held in Berlin, co-chaired by Gevorg Papoyan and Niels Annen, State Secretary of the German Ministry for Economic Development and Cooperation.
During the meeting, the two sides discussed prospects for enhancing bilateral trade and economic relations, with a focus on trade, investment, imports and exports, the development of micro- and medium-sized enterprises, renewable energy, sustainable urban development, water resource management, agriculture, high technology, tourism, and other key sectors.
