Armenia to receive 75-million-euro loan from France

Armenia to receive 75-million-euro loan from France

A 75-million-euro loan agreement is planned to be signed between the Government of Armenia and the French Development Agency aimed at financing the Vedi reservoir.

"The agreement will provide an opportunity to relieve water scarcity on the Ararat plain and allow to transfer from a mechanical irrigation to a gravity system," Tert.am cited the Minister of Finance, Gagik Khachatryan, as saying.

The loan repayment period is 20 years, 6 of which are on preferential terms.

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