ADB to provide 50 million USD budget support to Armenia

YEREVAN, OCTOBER 18, ARMENPRESS. The Armenian government approved the draft on attracting budget support loans worth 50 million USD from the Asian Development Bank (ADB), reports Armenpress.

According to the draft, Armenia and the ADB are going to sign a loan agreement aimed at attracting budget support loan resources worth 50 million USD.

The funds will be directed for financing the deficit by the law on 2018 state budget (the total amount of the deficit – 156 billion 915 million 705.5 thousand drams).

The total cost of the program is 90 million USD. It aims at expanding the Armenian financial markets.

Edited and translated by Aneta Harutyunyan