Lydian Armenia to receive  $150 million loan with a budget guarantee  from Ameriabank

ArmInfo. The Armenian government is changing the scopes of creditors for the program to resume operations at the Amoulsar gold mine.  The decision was made by the Cabinet of Ministers on April 30.  As stated in the explanatory note to the document, the adoption of the project is conditioned by the necessity to ensure the issuance of a budget guarantee in order to  ensure the normal course of activities of <Lidian Armenia> CJSC.

< By its resolution No. 220-A of February 27, 2025, the Government  decided to provide a budgetary guarantee in the amount of up to $150,000,000 (one hundred and fifty million) to "Lidian Armenia" CJSC under the conditions stipulated by the same resolution for attracting credit funds from the banking system operating in the territory of the Republic of Armenia for up to five years at a nominal interest rate of up to 9% by concluding a relevant agreement, accepting subsequent collateral issued in favor of commercial banks as a means  of securing the repayment of the loan.

It is noted that the same decision determined the content of the  budget guarantee, which provided for attracting a syndicated loan from CJSC Ardshinbank, OJSC ACBA BANK, CJSC IDBank, CJSC Inecobank and CJSC EVOKABANK in the total amount of $150 million, secured by a budget guarantee.  However, as a result of the company's negotiations  with commercial banks, the framework of commercial creditor banks was changed, which necessitated amending the content of the budget guarantee approved by Government Resolution No. 220-A of February 27, 2025. As a result, as stated in  today's decision draft, the document titled <Budget Guarantee> states that <a syndicated or non-syndicated loan of up to $150 million> will be attracted from CJSC Ameriabank.