German KfW Development Bank will issue a loan at the amount of €18,5mln to resumption of Kaps pond on the Akhuryan river in Shirak marz.

The relevant agreement was approved by the Armenian government today, the Armenian governmental press service reports.

The pond was supposed to have 60 cubic meters of volume but the construction launched in 1985 was stopped in 1993 when the height of the dam reached only 20 meters instead of the 73 meters according to the project. The pond can contribute to development of agriculture in the region so options of resumption have been discussed.  KfW German bank expressed the readiness to support completion of construction works of Kaps pond, so a contest has been announced.

The German bank is currently ready to conduct a target research with €350 thousand grant till the start of the main phase of the project.