The signing ceremony of the agreement on opening offices of the German Agency for International Cooperation (GIZ) and the German Development Bank (KfW) in Armenia took place Thursday in Yerevan.

The document was signed by Minister of Economy of Armenia Vahan Kerobyan and Ambassador of Germany Victor Richter.

It was noted that the signing of this agreement will contribute to the development of mutually beneficial cooperation, and will create favorable conditions for expanding economic ties and increasing business activity between the two countries.