The finance minister of Armenia, Tigran Davtyan, and the first vice-president of the bank KfW, Eva Wiet, have signed credit agreements of 51 million euros for the reconstruction and re-equipping of the system of the Vorotansky series of hydroelectric power plants.
The first tranche of the loan - 29 million euros - will be provided under the terms of agreement between Armenia and Georgia on financial cooperation. The programme will start in 2011. Th realization term is 4 years, News-Aremenia reports.
