Germany to provide over 150mln euro to Armenia

Germany will provide 152 million euro in support to Armenia, Armenian Minister of Economy Gevorg Papoyan said.

According to him, of the 152 million euro, 18 million euro will be provided as a grant, while 134 million euro will be low-interest loans, with interest rates just above zero.

The minister noted that the entire amount will be directed toward the development of small and medium-sized enterprises in Armenia, the advancement of renewable energy and water systems, and the resolution of several key issues in the country’s economy.