ArmInfo.As part of a joint budget assistance program based on the Fiscal Stability and Financial Markets Development Program Policy, two loan agreements were signed yesterday at the Finance Ministry of Armenia: a100,000,000 Euro loan agreement between Armenia and the French Development Agency (AFD) two-tier) and a 100,000,000 US dollar loan agreement between Armenia and the Asian Development Bank (ADB).
Finance Minister Tigran Khachatryan, French Development Agency's (AFD) Eastern Europe, Middle East, and Asia Department Director Cyril Belier and the French Ambassador to Armenia Anne Louyot signed the Armenia- AFD document, while the agreement with the ADB was signed by Khachatryan and ADB Armenia Deputy County Director Huiping Huang.
The main goals of the budget financing are: to strengthen efficiency of public funds management and development of the monetary and capital markets, develop a strategic framework for transitioning to green economy and introduce instruments for promoting public and private funding for implementing the climate change mitigation goals.
Minister Khachatryan stated Armenia highly appreciates the bilateral long-term cooperation with France.
The AFD stated its willingness to support Armenia and improve the quality of the bilateral dialogue for long-term effective cooperation.
The AFD and Armenia established cooperation in 2012. As of October 5, 2021, the AFD portfolio in Armenia was EUR 125.5mln.
