YEREVAN, NOVEMBER 24, ARMENPRESS. A 100,000,000 euro loan will be provided to Armenia by a loan agreement signed with the French Development Agency for financing the state budget deficit, finance minister Tigran Khachatryan said.

Given the increasing cooperation volumes the French Development Agency decided to open a permanent representation in Yerevan, he added.

The loan is provided in two tiers with a 20-year term. “We can apply to receive the two at once. We plan to apply and receive at least one by yearend,” the minister said.

Khachatryan added that the government has also approved another loan agreement, with the Asian Development Bank, for the allocation of another 100,000,000 dollar support for Armenia.