YEREVAN. – The Central Bank of Armenia (CBA) and the German government-owned KfW Development Bank on Monday signed a loan agreement in the amount of €15 million.

This loan will be used for funding energy saving projects for Armenia’s micro, small, and medium-sized enterprises, and enabling these enterprises new opportunities for having more energy-efficient and modern equipment.

In addition, technical assistance is planned, under which respective counseling will be provided to the beneficiaries of this project.