Minister of Finance: Budget of programs implemented with the  assistance of the EDB in 2022 will amount to about $ 31.8 mln 

ArmInfo. In 2022, within the framework of cooperation with the Eurasian Economic Union, including with the financial structures of the EAEU - the Eurasian Fund for  Stabilization and Development (EFSD) and the Eurasian Development  Bank (EDB), the state budget project plans to implement 3 programs  with 6 events. Armenian Minister of Finance Tigran Khachatryan stated  this on November 4 at a joint meeting of the standing parliamentary  committees to discuss the draft state budget for 2022.

In general, for the implementation of these programs in 2022, the  draft state budget provides 15 billion 720 million (about $ 31.8  million, $ 1 is equal to 493.6 AMD). Of these, 15 billion 594 million  drams are loan funds, and 126 million drams are grants. In 2021,  funds in the amount of 6 billion 691 million drams were provided for  these purposes. Thus, funding increased by 135%, the minister said.

As the head of the Ministry of Finance explained, the programs  implemented with the EFSD mainly relate to infrastructure projects,  in particular, in the area of improving irrigation systems and  improving the road network. Khachatryan recalled that the  construction of the southern section of the North-South transport  corridor is being carried out with the support of the EDB. In  addition, a grant program for the modernization of the healthcare  system is being implemented with financial assistance from the Bank.

The Eurasian Fund for Stabilization and Development (EFSD, formerly  the EurAsEC Anti-Crisis Fund) is a $ 8.513 billion regional financial  mechanism established in 2009 by Armenia, Belarus, Kazakhstan,  Kyrgyzstan, Russia and Tajikistan. The Fund was created in order to  overcome the negative crisis consequences, ensure long-term  sustainability and facilitate the integration of the economies of the  Fund's member states. Armenia has been a member of the Eurasian  Economic Union since January 2, 2015. The volume of the EFSD project  portfolio in the Republic of Armenia is: for financial loans - US $  300 million; on investment loans - 190 million US dollars, of which  150 million US dollars in the direction of "Transport", 40 million US  dollars - in the direction of "Agriculture". One investment project  in the direction of "Agriculture" is under preparation, the estimated  volume of the investment loan is 25.2 million US dollars.