YEREVAN, FEBRUARY 6, NOYAN TAPAN. The results of KfW bank-financed programs implemented in Armenia and the opportunities for developing the cooperation were discussed at the February 4 meeting of the RA minister of finance and economy Vardan Khachatrian and the KfW bank's first vice president for Europe and Caucasus Roland Siller. NT was informed by the ministry's press service that V. Khachatrian expressed satisfaction at the KfW bank's avtivities in Armenia. Since 1995, KfW bank (Germany) has been a reliable partner for promotion of stable economic cooperation between the governments of Armenia and Germany. Thanks to efficient assistance of KfW, a number of projects on increasing Armenia's energy security and on modernization of infrastructures have been successfully implemented. Until 2007, the German government provided concessional credits and grants of about 150 million euros through KfW to Armenia for implementation of various development programs. Cooperation with this German bank focuses on three main spheres: assistance to energy, water supply and sewerage, and the financial and private sectors, as well as on two auxiliary spheres: helth care and environmental protection. During the meeting, R. Siller said that KfW with its resources participates in the creation of a global network of ProCredit banks (Germany).

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