Minister of Nature Protection RA: Armenia Intends to Apply 'Environmental Program For Debt'

Minister of Nature Protection RA: Armenia Intends to Apply 'Environmental Program For Debt'

EcoLur

'Debt for Nature' is a mechanism proposed by the World Bank, as RA Nature Protection Minister Artsvik Minasyan told the journalists at the press conference.

'When there is a foreign debt formed between two countries and such developing countries as Japan or Germany make a proposal that they are ready to yield a certain part of the debt for implementation of environmental programmes. For example, a country, which needs to reduced emitted greenhouse gases under the conditions of global climate change, can make a proposal to an x country that we are ready to support you to implement a project aimed at decreasing emissions through introduction and change of technologies, expansion of green zones etc and I will refuse from this part of debt. This mechanism is aimed at the implementation of certain environmental programmes and doesn't aim to impact on the external financial market rating of Armenia,' Artsvik Minasyan commented.

The minister mentioned that currently Armenia doesn't have a certain proposal from any country. Currently negotiations are run by the World Bank in parallel with discussions inside the country.

15:53 February 10, 2017


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