Friday, November 1 2024 21:03
Aline Grigoryan

ADB to provide Armenia with a loan of 89.5 million euros as part of  budget assistance framework

ADB to provide Armenia with a loan of 89.5 million euros as part of  budget assistance framework

ArmInfo.The Asian Development Bank (ADB) will provide Armenia with a budget assistance loan of  89.469 million euros. The loan agreement "Fiscal Sustainability and Financial Markets Development Program - Subprogram 2" was signed between the Ministry of Finance and ADB on November 1 of this year,  as noted in the message of the Ministry of Finance of the Republic of Armenia.  

The budget assistance program encompasses several sectoral   reforms, including tax and budget system improvements, public debt  management, enhanced financial risk management policy, strengthened  issuance system for government securities, improved financial  instruments, and promotion of corporate governance and transparency.

It should be noted that ADB has been cooperating with Armenia since  2005. As of April 2024, the Bank has implemented numerous projects in  Armenia worth $1.9 billion, aimed at developing the transport,  financial, energy, water and other infrastructure sectors.

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