CREDITS OF 8.7 MLN EUROS AMD 6.8 MLN EUROS TO BE PROVIDED TO SHIRAK
WATER CANAL AND LORI WATER CANAL
YEREVAN, JUNE 23, NOYAN TAPAN. Within the framework of the Program on
the Restoration of the Water Supply and Sewerage Systems of Lori and
Shirak Marzes, the German government will provide a 8.7 mln-euro
credit to the Shirak Water Canal CJSC and a 6.8 mln-euro credit to the
Lori Water Canal CJSC. According to the RA Government Information and
PR Department, at the June 23 meeting, the Armenian government
authorized the RA Ministry of Finance and Economy to sign with these
companies the subcredit (credit) agreements envisaged by the program.
The credits carry a 0.75% annual interest rate and are repayable in 30
years with a 10-year grace period. Grant agreements envisaging grants
of 4.3 mln euros and 3.4 mln euros will also be signed with the two
companies.