Armenian parliament approves $2,000,000 loan deal with IBRD

Armenpress 11:26, 12 April, 2018

YEREVAN, APRIL 12, ARMENPRESS. The parliament approved the 2 million dollar loan agreement for improvement of irrigation systems between Armenia and the International Bank for Reconstruction and Development (IBRD) on April 12.

62 lawmakers voted in favor of the agreement, while 31 voted against. The opposition Tsarukyan and Yelk factions voted against.

The agreement is an amendment to the 2013 loan agreement of improving irrigation systems which was ratified by the World Bank and Armenia. The program planned 30 million dollars in loan, an additional 7,5 million dollar co-financing for the improvement of the mechanical irrigation systems namely in Meghri, Kaghtsrashen and Baghramyan-Norakert.

But the new program will not be directed to the previous one, as it is a completely new project.

English –translator/editor: Stepan Kocharyan


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