Armenia to receive 75-million-euro loan from French Development Agency

YEREVAN, OCTOBER 11, ARMENPRESS. The parliament’s committee on fiscal and budgetary affairs has approved the bill on ratifying the agreement between Armenia and the French Development Agency.

Under the agreement the French Development Agency will provide a 75-million-euro budgetary support loan.

Deputy Finance Minister Eduard Hakobyan told lawmakers that the loan will be directed for improving the efficiency and stability of public services and the development of private investments, as well as ensuring sustainable and inclusive development and higher quality of life for the population.

The bill on ratifying the agreement will be debated in the upcoming plenary session of parliament.

The government will submit two other loan agreements, one with the Eurasian Development Bank and one with the International Bank for Reconstruction and Development, for ratification.

The budgetary support loans are aimed at funding the budget deficit.