08 May 2024 / 00:47
Armenian parliament holds special session on loan agreements
The National Assembly of Armenia held an emergency session on Friday to debate ratification of loan agreements with the French Development Agency and the Asian Development Bank (ADB).
“It’s part of the same program on fiscal sustainability and financial markets development supported by two donor agencies,” Deputy Minister of Finance Vahe Hovhannisyan told lawmakers.
Armenia signed $100 million and €100 million loan agreements with the Asian Development Bank and the French Development Agency on November 17, respectively.
The deputy minister noted that the funds would be used to finance the 2022 state budget deficit as well as to cover planned expenditures.
The loans will be repaid within 12 years.
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