Armenia will receive €152 million in financial assistance from the German government, announced Economy Minister Gevorg Papoyan following the Armenian-German Intergovernmental Commission meeting in Berlin. The agreement marks a major step forward in strengthening Armenian-German economic cooperation and underscores Germany’s continued support for Armenia’s sustainable development, economic modernization, and growing partnership with Europe.
The session of the Intergovernmental Commission on Financial and Technical Cooperation between Armenia and Germany was held in Berlin and co-chaired by Minister Papoyan and Niels Annen, State Secretary of the German Federal Ministry for Economic Cooperation and Development.
“This is the main result we achieved in Berlin at the joint meeting of the Armenian-German Intergovernmental Commission, which I chair from the Armenian side,” Papoyan wrote on his Facebook page.
According to the minister, €18 million of the total amount will be provided as a non-repayable grant, while the remaining €134 million will be issued as a low-interest loan with rates just slightly above zero. The funds will be directed toward developing micro, small, and medium-sized enterprises (SMEs), renewable energy, and water supply systems in Armenia, as well as addressing several key economic challenges.
During the meeting, the two sides discussed expanding bilateral trade and economic relations, focusing on areas such as trade, investment, export and import development, SME growth, renewable energy, sustainable urban development, water resource management, agriculture, high technology, and tourism.
Papoyan emphasized that the German assistance will play a significant role in Armenia’s economic modernization and the promotion of sustainable growth.
