YEREVAN. – The regular meeting of the supervisory board of the German-Armenian Fund program, which is implemented with the participation of the German KfW Bank, took place on December 6 in Vienna.
At the end of the meeting, Central Bank of Armenia (CBA) Governor Arthur Javadyan and KfW Bank Regional Director Olaf Zymelka signed three new loan agreements totaling €60 million, the CBA informed Armenian News-NEWS.am.
One of the agreements, totaling €20 million, relates to the next phase of the financing program of Armenia's agricultural sector.
The next agreement, also in the amount of €20 million, is for the start of the next phase of the sustainable housing finance development program for Armenia.
The third agreement, again in the amount of €20 million, is to implement the next phase of the renewable energy promotion program and to promote investment in this area.