ArmInfo. Armenia will attract loans to finance the deficit of the state budget of the country in 2024. At a meeting on October 11, the Committee of the National Assembly of the Republic of Armenia on Financial, Credit and Budgetary Affairs approved agreements with the Eurasian Development Bank, the International Bank for Reconstruction and Development and the French Development Agency.
According to the Deputy Minister of Finance of the Republic of Armenia Eduard Hakobyan, the agreement with the EDB provides for the provision of a loan of $100 million to Armenia to continue the reform programs in the economic sphere, arising from the goals of the RA government plan. The EDB will provide funds in US currency with the payment of the last tranche by December 31, 2024.
Another loan agreement signed with the IBRD is planned to receive $92.3 million and a grant of $16 million, which will be used to implement the "Second Operation of the Green, Sustainable and Inclusive Development Policy". It envisages activities to promote climate change mitigation and adaptation, improve the legal framework for environmental management, strengthen equality and promote human capital development, improve the effectiveness of the anti-corruption framework and the justice sector. The program will also support the solution of urgent problems of 100 thousand people forcibly displaced from Nagorno-Karabakh.
With the third agreement, the French Development Agency will provide Armenia with financial assistance in the form of a loan of 75 million euros. The program consists of three main components - improving the public financial management system, strengthening the system of issuance and management of government securities and the infrastructure of money markets, and developing new instruments for financing entrepreneurship and ensuring more transparent management.
