ADB to allocate 90 million USD loan to Armenia
15:03, 10 November 2016YEREVAN, NOVEMBER 10, ARMENPRESS. The Asian Development Bank will allocate 90 million USD budget support loan to Armenia, reports “Armenpress”.
While presenting the agreement at the Government’s session, Finance Minister Vardan Aramyan said these funds will be used to improve the management and sustainability of roads, water supply and electricity sectors in Armenia.
Aramyan said the money will be given for 15 years, from which 3 with a grace period, by Libor +0.5%.
The project also aims to install competition mechanisms in the electricity market.
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