Over 36 Million Euros: Armenia Takes Another Loan

The Republic of Armenia and the Asian Development Bank are set to sign a loan agreement for the "Second Program for Public Efficiency and Financial Markets." According to the agreement, a budget support loan of 36 million 506 thousand euros is to be provided to Armenia.

The primary objective of the program is to strengthen Armenia's fiscal stability and develop financial and capital markets. The program's scope includes, in particular, enhancing the management of public debt and fiscal risks, improving market liquidity and financial market transparency, and developing markets for corporate debt and equity capital.

It turns out that the Government of Armenia will also approve the signing of the second loan agreement at its session today. It is noted that the Ministry of Finance of the Republic of Armenia, the Ministry of Environment, and the KfW Development Bank are expected to sign the "Policy-Based Loan – Environmental Protection" loan agreement. According to this, a budget support loan of 40 million euros is to be allocated to Armenia. The funds are to be directed towards financing the deficit defined by the law on the State Budget for 2019,

the newspaper writes. The full article can be read in today's issue of the newspaper.