Armenia to Take New Loans Amounting to $320 Million

Armenia will take new loans amounting to $320 million. The decision to approve the relevant agreements was made at a government meeting on August 6.

In particular, the government plans to obtain a loan of $150 million from the Asian Development Bank. This loan will be provided for a term of 15 years at an interest rate of 4.58%.

The funds will be allocated, among other things, to support the strengthening of public finance, public debt management, and financial risk management policies, enhance the stability of infrastructure investments, and improve the government securities market.

The second loan agreement has been signed with the International Bank for Reconstruction and Development, amounting to €170 million (approximately $200 million). The funds are intended to promote investments, liberalize trade and competition, as well as ensure sustainable growth.

The term of this loan is 28 years, with an annual interest rate of 3.9%.