Armenia Takes Out a €100 Million Loan

The government has approved a proposal to sign a loan agreement between the Republic of Armenia and the French Development Agency.

Under this agreement, Armenia will receive €100 million in loan funds as part of a budget support program, which will be allocated to finance the deficit outlined in the law on the state budget for 2022.

The scope of the program includes tax and budget planning, transparency, risk management, enhancing the effectiveness of public spending, reforms in the public-private partnership system, modernizing the public procurement system, and developing green economy policies, among others.