YEREVAN.- A grant agreement for implementing “Biodiversity and sustainable local development in Armenia” program was signed between the Republic of Armenia and the German Development Bank (KfW) on Monday in the presence of acting Prime Minister of Armenia Nikol Pashinyan, the official website of the Prime Minister of Armenia reported.

The agreement was signed by acting Minister of Finance of Armenia Atom Janjughazyan, acting Minister of Nature Protection of Armenia Erik Grigoryan and Director of KfW Regional Office Dr. Klaus Veigel.

The total budget of the grant is over 23.2 million euros, which has been provided by the Federal Ministry of Economic Cooperation and Development of Germany through the KfW Development Bank. The size of the financial support is unprecedented for the region and is one of the largest in general.