Armenian ambassador expresses appreciation of cooperation with OFID

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Economy

24.11.2011, 04:02

Armenian Ambassador to Austria Arman Kirakosyan, on behalf of the government, thanked the Director-General of the OPEC Fund for International Development (OFID), Suleiman J. Al-Herbish for support as met him on Tuesday.

YEREVAN, November 23. /ARKA/. Armenian Ambassador to Austria Arman Kirakosyan, on behalf of the government, thanked the Director-General of the OPEC Fund for International Development (OFID), Suleiman J. Al-Herbish for support as met him on Tuesday.

He highly appreciated the programs the fund is implementing in Armenia.

Kirakosyan and Al-Herbish outlined prospects for further cooperation.

In June, Armenian National Assembly ratified a $20-million loan agreement with OFID.

This preferential loan is extended at 3.5% interest rate for 20 years with a five-year grace period. This money will be spent for development of rural infrastructures and poverty elimination in rural areas. –0--

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