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.
