Armenia May Get German Funds for Hydropower Plan, Armenbrok Says

Armenia may get 40 million euros ($52 million) for renewable energy projects from Germany’s state-run development bank, Armenbrok Investment Co. said.

The plan is part of a program set up in 2007 with 24 million euros and will be used for hydropower, it said today in a report, citing German-Armenian Fund Director Gevorg Tumanyan.

To contact the reporter on this story: Helena Bedwell in Tbilisi at hbedwell@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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