ArmInfo. A meeting was held at the Armenian Ministry of Finance to launch a preliminary dialogue with interested Armenian agencies on the provision of new credit mechanisms based on the policies of the Asian Development Bank (ADB) and the French Development Agency (Agence Francaise de Developpement). A joint mission of the Asian Development Bank (ADB) and the French Development Agency (Agence Francaise de Developpement) participated in the meeting.
According to the press service of the Armenian Ministry of Finance, during the meeting, the parties discussed the general structure, priority areas, and potential components of the new budget support lending program in detail. They also talked about the structural reforms being implemented and planned by various Armenian agencies with the goal of boosting economic growth, enhancing the efficienct of public financial management, and strengthening macroeconomic stability. An agreement was reached on the scope and next steps of the technical assistance programs provided by the Asian Development Bank and the French Development Agency (Agence Francaise de Developpement) to ensure a coordinated implementation of reform and effective program preparation.
On January 22, the Armenian government approved a proposal to sign a draft loan agreement under the "Fiscal Stability and Financial Market Development - Subproject 3" program, which envisages a $150 million loan from the Asian Development Bank (ADB) to Armenia to replenish the budget.
As stated in the document's rationale, the need for budget support loans, planned to be received from international financial institutions, including the Asian Development Bank, is estimated at approximately $675 million. Taking into account the above, the Armenian Ministry of Finance has initiated the process of attracting a $150 million budget support loan from the Asian Development Bank.
