Armenia to attract EUR 50mln loan to mitigate climate change  consequences  

ArmInfo. Armenia's government has approved on Thursday a proposal for signing a loan agreement  "Green, sustainable and inclusive development policy programme" between Armenia and the OPEC Fund for International Development. 

According to the explanatory note, the program aims to promote green,  sustainable and inclusive development in Armenia by promoting climate  change mitigation and adaptation, improving environmental management  and energy efficiency, ensuring greater levels of equity and  promoting human capital development, as well as strengthening  governance.

Implementation of measures and reforms in a number of areas  identified by a bilaterally agreed table of policy actions is a  prerequisite for receiving budget support funds. The program is being  implemented jointly with the World Bank, so the scope of reforms is  identical to the policy table of the loan agreement signed with the  World Bank on April 4.

The scope of the program reforms includes, in particular, the  following measures, which, in turn, also consist of sub-measures:

Promoting climate change mitigation and adaptation, as well as  improving the regulatory framework for environmental management; a)  management of public investments b) promotion of energy efficiency c)  conservation of atmospheric air d) environmental impact assessment.

Strengthening equality and promoting human capital development.

a) improving the targeting of the social support system b)  introducing a new competency-based curriculum to achieve learning  outcomes.

Improving the effectiveness of the anti-corruption system and the  justice sector a) evaluation of state aid b) justice and  anti-corruption. Note that by September of this year. The OPEC  International Development Fund accounts for 0.8% of the Armenian  government debt in the amount of $10.8bln.