YEREVAN. – Armenia will sign a €5.3-million grant agreement  with the German government-owned KfW Development Bank.

The decision to this effect was approved at Thursday’s Cabinet session of the government of Armenia.

The Minister of Finance, Vardan Aramyan, presented the draft. 

The funds from this grant agreement will be allocated within the framework of the agricultural insurance system support program, which is aimed at the protection of Armenia’s agricultural sector from climate risk. 

And the respective co-funding from Armenia will be €5 million.