ArmInfo.The final meeting of the Asian Development Bank (ADB) Country Operations Review and Programming Mission (CORPM) was held under the chairmanship of Edgar Mkrtchyan, Deputy Minister of Finance of Armenia.
Participants discussed the current cooperation programs with ADB, their status, key challenges, proposed measures, and ADB's new strategic partnership package for 2026-2028. Among several vital initiatives, they highlighted the launch of the third phase of the Fiscal Stability and Financial Market Development program, aimed at strengthening economic and fiscal reforms in Armenia. Following the meeting, the parties reaffirmed their commitment to continue close cooperation aimed at improving the effectiveness of program implementation and ensuring Armenia's sustainable development.
Recall, 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. In light of this, the Armenian Ministry of Finance has initiated the process of attracting a $150 million budget support loan from the Asian Development Bank. It is worth noting that the Asian Development Bank has forecasted a 4.7% economic growth for Armenia in 2026.
