Armenia to get $50 mln budgetary loan from World Bank as assistance to governmental reforms
ArmInfo. Armenia will receive $50 mln loan from the World Bank for the needs of the state budget. The project draft, which is the 4th part of Development Policy between Armenia and the International Bank for Reconstruction and Development, was approved today at the government's session.
The program aims to assist governmental reforms to develop stable tax-budgetary, social environment and strengthen competitiveness. The term of the $50 mln budgetary loan is 25 years with 14.5 years of grace period. The loan will be provided with 6 months Libor+ fixed spread rate, which will be set at the moment of transferring the sum.