Government approves ADB’s 40 million USD budgetary assistance program

YEREVAN, NOVEMBER 2, ARMENPRESS. The Armenian government approved the draft loan agreement “between Armenia and the Asian Development Bank “Public Efficiency and Financial Markets Program – Subprogram 1”.

Finance minister Vardan Aramyan said under the agreement it is planned to provide Armenia with a 40 million dollar budget assistance loan.

“The budgetary assistance credit, unlike targeted programs, enables to finance the most important spending categories of the budget. The loan will be provided with a 15 year re-payment period, three years being privileged”, Aramyan said.

In particular, it is planned to enhance the fiscal risk management and the state debt with the purpose of improving fiscal discipline and transparency.