OPEC Fund to provide 50 million euro loan to Armenia

ArmInfo.Armenia will  attract a 50 million euro loan from the OPEC Fund for International  Development as part of the Second Green, Inclusive and Sustainable  and Development Policy Program. The agreement is currently being  discussed for ratification at an extraordinary session of the  National Assembly of the Republic of Armenia on December 5.   According to RA Finance Minister Vahe Hovhannisyan, this is a budget  assistance program that also involves the World Bank. The loan funds  will be used to finance the country's state budget deficit for 2024,  which amounts AMD 482.9 billion. To address this issue, it is planned  to secure credit resources in the amount of $450 million. The OPEC  fund loan is provided for a period of 18 years, with a grace period  of 5 years for payments, and an annual interest rate of a floating  6-month EURIBOR + 1.56%, which as of December 2 is 4.235%.