Thursday, March 23 2023 12:49
Naira Badalian

Armenia to get EUR 92.3mln WB loan for budget deficit coverage 

Armenia to get EUR 92.3mln WB loan for budget deficit coverage 

ArmInfo.Armenia's government has approved a proposal to sign a 92.3mln Euro loan agreement between Armenia and the World Bank (WB) for financing the 2023 budget  deficit. 

Reforms in a number of areas under a bilateral political action plan  is a condition for the allocation of funds. 

The project provides for alleviation of the consequences of climate  change and legal reforms involving nature management, promotion of  equality and human capital development, enhancing corruption control  and judicial efficiency.  

The loan will be issued for 19 years, with a 5-year grace period. 

POST A COMMENT
Input digits     


News
AraratBank underwrites FINCA UCO bondsAraratBank underwrites FINCA UCO bonds
Team NGN`s 25Gbps network is already available to 150,000 households  in ArmeniaTeam NGN`s 25Gbps network is already available to 150,000 households  in Armenia
Pashinyan: Armenia considers it important to form collective food  security system in EAEUPashinyan: Armenia considers it important to form collective food  security system in EAEU
Trade, services and construction continue to be main drivers of  double-digit growth in economic activity in ArmeniaTrade, services and construction continue to be main drivers of  double-digit growth in economic activity in Armenia
Armenian investment crowdfunding platform ARFI and ANIF to be  presented at Orion 2023 Summit in New YorkArmenian investment crowdfunding platform ARFI and ANIF to be  presented at Orion 2023 Summit in New York
Transavia Airlines to start Marseille-Yerevan-Marseille operating  flightsTransavia Airlines to start Marseille-Yerevan-Marseille operating  flights
Georgia refutes information about launch of shipment to NovorossiyskGeorgia refutes information about launch of shipment to Novorossiysk
Batumi-Novorossiysk ferry service put into operation Batumi-Novorossiysk ferry service put into operation 
Plant producing aluminum radiators to be put into operation in  ArmeniaPlant producing aluminum radiators to be put into operation in  Armenia
Vahan Kerobyan on Vahan Kerobyan on "impressive" indicators of FDI in Armenian economy
Yerevan brandy company could stop exports to RussiaYerevan brandy company could stop exports to Russia
Kaps reservoir construction project resumed in Armenia Kaps reservoir construction project resumed in Armenia 
CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization 
ANIF to invest EUR 3.9mln in Universal Closures company ANIF to invest EUR 3.9mln in Universal Closures company 
Germany to assist Armenia in strengthening local government systemGermany to assist Armenia in strengthening local government system
Fix Price announces entry into Armenia`s marketFix Price announces entry into Armenia`s market
Presentation of ROBBO company held in Armenia Presentation of ROBBO company held in Armenia 
EBRD improves its GDP growth forecast for Armenia EBRD improves its GDP growth forecast for Armenia 
FLYONE ARMENIA started operating flights on the route Yerevan-Larnaca-YerevanFLYONE ARMENIA started operating flights on the route Yerevan-Larnaca-Yerevan
Armenian Diaspora of United States is ready to invest in  technological development of ArmeniaArmenian Diaspora of United States is ready to invest in  technological development of Armenia
CBA Forecast: Inflation in Armenia to reach target level of 4% from  H2 2023CBA Forecast: Inflation in Armenia to reach target level of 4% from  H2 2023
Foreigners` transactions on buying and selling property  reduced in  ArmeniaForeigners` transactions on buying and selling property  reduced in  Armenia
In Yerevan, real estate market activity is declining, but prices  continue to riseIn Yerevan, real estate market activity is declining, but prices  continue to rise
RA citizens` perception of EU has changed dramatically. Pashinyan The  reputation of the European Union has significantly improved after the  Union decided to send an observation mission to Armenia RA citizens` perception of EU has changed dramatically. Pashinyan The  reputation of the European Union has significantly improved after the  Union decided to send an observation mission to Armenia 
Bright future for solar energy in Armenia - Expert on measures to  ensure sustainable development and true independence of  energy  sectorBright future for solar energy in Armenia - Expert on measures to  ensure sustainable development and true independence of  energy  sector
EDB discusses and implements number of energy projects in Armenia -  Head of BankEDB discusses and implements number of energy projects in Armenia -  Head of Bank
EDB is ready to support Amulsar mine development project - PodguzovEDB is ready to support Amulsar mine development project - Podguzov
Armenian-Czech business forum held in Prague Armenian-Czech business forum held in Prague 
Armenia`s Finance Ministry delegation participates in experience  exchange events  organized by ICAEWArmenia`s Finance Ministry delegation participates in experience  exchange events  organized by ICAEW
EAEU expects to significantly increase volume of trade in mid term by  signing of FTZ establishment agreement with IranEAEU expects to significantly increase volume of trade in mid term by  signing of FTZ establishment agreement with Iran
Union of Banks of Armenia presented awards to employees of ArmInfo  for their professional activities in covering financial and banking  sectorUnion of Banks of Armenia presented awards to employees of ArmInfo  for their professional activities in covering financial and banking  sector
CBA Deputy Governor singles out three key factors ensuring growth of  Armenia`s economy last yearCBA Deputy Governor singles out three key factors ensuring growth of  Armenia`s economy last year
Armenia`s state treasury revenues from leasing of state property  increased by 67.7% in 2022Armenia`s state treasury revenues from leasing of state property  increased by 67.7% in 2022
WB to issue 92.3mln Euro loan to Armenia for supporting country`s  budgetWB to issue 92.3mln Euro loan to Armenia for supporting country`s  budget
Iranian company to construct modern checkpoint in Armenia`s MeghriIranian company to construct modern checkpoint in Armenia`s Meghri
Environment Ministry, KfW sign agreement for implementation of EUR 26  million program Environment Ministry, KfW sign agreement for implementation of EUR 26  million program 
43 young people graduated from joint training programme organized by GITC and HSBC Armenia43 young people graduated from joint training programme organized by GITC and HSBC Armenia
Armenian, Lebanese ministers of economy discuss development of  economic ties  Armenian, Lebanese ministers of economy discuss development of  economic ties  
Minister of Economy: Relocation impact on Armenia`s economic growth  is estimated at one thirdMinister of Economy: Relocation impact on Armenia`s economic growth  is estimated at one third
AMD 3,389,788 for the project to reveal the professional potential of war participants. The next beneficiary of AMD 3,389,788 for the project to reveal the professional potential of war participants. The next beneficiary of "The Power of One Dram" is the "Path of Life" NGO
After 12-year break, airBaltic resumes flights on Riga-Yerevan-Riga  routeAfter 12-year break, airBaltic resumes flights on Riga-Yerevan-Riga  route
PSRC announced results of tender for license to launch 5G networks in  ArmeniaPSRC announced results of tender for license to launch 5G networks in  Armenia
FlyOne Armenia plane makes emergency landing in IranFlyOne Armenia plane makes emergency landing in Iran
Specific debt burden per capita in Armenia continues to grow rapidly,  approaching $4.000Specific debt burden per capita in Armenia continues to grow rapidly,  approaching $4.000
Armenian interagency group to deal with multimodal high-speed route  and operator activities in Chabahar PortArmenian interagency group to deal with multimodal high-speed route  and operator activities in Chabahar Port
$250mln investments in Amulsar nothing but a bubble - Environmental  Front$250mln investments in Amulsar nothing but a bubble - Environmental  Front
Armenia`s economic activity continues to grow at double-digit paceArmenia`s economic activity continues to grow at double-digit pace
Rocket Line digital credit with longer termRocket Line digital credit with longer term
Ardshinbank warns about the facts of fraudArdshinbank warns about the facts of fraud
Inflation began to decline more noticeably in ArmeniaInflation began to decline more noticeably in Armenia
Feeling of insecurity among majority of Armenia`s population may  affect country`s economic development- EconomistFeeling of insecurity among majority of Armenia`s population may  affect country`s economic development- Economist
GIZ and KfW to open offices in YerevanGIZ and KfW to open offices in Yerevan
RA Premier: New checkpoint to be built in Meghri with EU assistance RA Premier: New checkpoint to be built in Meghri with EU assistance 
Gnel Sanosyan: For many years, tariffs for connection to Electric  Networks of Armenia were far from realisticGnel Sanosyan: For many years, tariffs for connection to Electric  Networks of Armenia were far from realistic
Armenia`s gross international reserves decreased by 9.4% in Q1 2023Armenia`s gross international reserves decreased by 9.4% in Q1 2023
Armenia`s budget revenues 20% up in Jan-Apr, 2023Armenia`s budget revenues 20% up in Jan-Apr, 2023
CBA: Monetary policy scenario envisages rapid decline in inflation  below target of 4% in near futureCBA: Monetary policy scenario envisages rapid decline in inflation  below target of 4% in near future
Martin Galstyan: Even in negative scenario, Armenia`s banking system  is able to absorb possible losses, while maintaining continuity of  financial intermediationMartin Galstyan: Even in negative scenario, Armenia`s banking system  is able to absorb possible losses, while maintaining continuity of  financial intermediation
CBA Head: Final victory has not yet been won in fight against  inflationCBA Head: Final victory has not yet been won in fight against  inflation
Pashinyan, Likhachev discuss construction of new nuclear power unit  in ArmeniaPashinyan, Likhachev discuss construction of new nuclear power unit  in Armenia
Read more


Exchange rates
26.05.2023
RUB4.830.00
USD386.520.12
EUR415.240.90
GBP478.400.81
CAD284.060.03
JPY27.65-0.03
CNY54.62-0.17
CHF427.951.46


Experts
RUB depreciation to lead to loss of competitiveness of Armenian  products in Russian market- Suren ParsyanRUB depreciation to lead to loss of competitiveness of Armenian  products in Russian market- Suren Parsyan
Separating apples from oranges: The essence of complianceSeparating apples from oranges: The essence of compliance
Ban on dollar mortgages in Armenia: On guard of consumer interests  or lobbying for banking interests-  Karen ZakaryanBan on dollar mortgages in Armenia: On guard of consumer interests  or lobbying for banking interests-  Karen Zakaryan
Read more

Commented
3.5% decline in living standard of average statistical employee in  Armenia 3.5% decline in living standard of average statistical employee in  Armenia 
Armenia`s economy is unhealthy: Economist offers ways to solve  existing problemsArmenia`s economy is unhealthy: Economist offers ways to solve  existing problems


Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2