Armenia to receive 75-million-euro loan from French Development Agency

Armenia to receive 75-million-euro loan from French Development Agency

The Armenian government has approved a loan agreement with the French Development Agency on the allocation of 75 million euros.

The agreement will provide an opportunity to relieve water scarcity on the Ararat plain and allow to transfer from a mechanical irrigation to a gravity system, which will lead to energy savings, NEWS.am reports.

The loan repayment period is 20 years, 6 of which are on preferential terms.

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