YEREVAN, NOVEMBER 24, ARMENPRESS. OPEC Fund for International Development will allocate $25 million to Armenia for rural development and agricultural business.

National Assembly confirmed the "Infrastructure and Rural Finance Support Project" between Armenian Republic and OPEC Fund for International Development” loan agreement. As “Armenpress” reports, 79 MPs were “for” the agreement, 17 of them were against the agreement and 5 MPs remained abstained.

Basic reporter, Deputy Minister of Finance-Chief Treasurer Atom Janjughazyan emphasized that the loan is allocated to Armenia by 20-year maturity and a grace period of 5 years. Annual service fee will amount to one percent, while the rate at 2.5%.