French Development Agency to provide 75-million-euro loan to Armenia

YEREVAN, AUGUST 8, ARMENPRESS. The Armenian government on August 8 ratified a 75-million-euro loan agreement with the French Development Agency.

The project comprises three main components, according to Finance Minister Vahe Hovhannisyan.

“Improvement of the public funds management system, strengthening of state bonds issuance and management circle and money market infrastructures, development and more transparent management of new instruments of funding of entrepreneurial activities,” he said at the Cabinet meeting. 

The following reforms directions have been defined under the mentioned components: increasing the efficiency of tax-budgetary planning, transparency and risk management, as well as state expenditures, reforms of state investments, including the state-private sector partnership system, modernization of the state procurement system, development of a green economy policy, increasing climate change adaptation and enhancement of application of green financial tools, improvement of state debt management system, development of financial and capital markets, expansion of corporate transparency.