ArmInfo. Armenia will attract $ 17.9 million from the International Bank for Reconstruction and Development to implement the program of social investments and local development. At a plenary session on October 27, the Armenian parliament ratified the corresponding agreement with the Bank.
As Deputy Minister of Territorial Administration and Infrastructures of the Republic of Armenia Vache Terteryan noted in his speech, the agreement was signed on April 21, 2020. The total amount of the program is $ 25.4 million, of which $ 17.9 million will be loans, $ 6.3 million - the government's participation in the project, and $ 1.1 million - for local governments. The loan was provided for a period of 25.5 years, of which 14.5 years - grace period for payments with an interest rate of 6 months EURIBOR + floating spread.
The program consists of three components - promoting the socio-economic development of communities and strengthening their capabilities ($ 6.2 million, of which $ 5 million is a loan), assistance to intercommunal development ($ 16.7 million, of which $ 12 million is a loan) and strengthening opportunities Territorial Development Fund ($ 6.5 million) This is, in particular, about the operational work on the repair or construction of kindergartens, local roads, small water supply networks, etc. It is also planned to continue work on reforming the local government system in order to increase its efficiency. In addition, it is planned to strengthen the capabilities of the Territorial Administration Fund, which, in addition to its main activities, will develop programs for the development of local communities. As the deputy minister noted, this program is the second. The first program raised $ 30 million