Armenia to take $90-million loan from Asian Development Bank

Banks
Азиатский банк развития

YEREVAN, December 23. /ARKA/. Armenia’s National Assembly ratified Friday a $90-million loan agreement with the Asian Development Bank.

Armen Hayrapetyan, deputy finance minister, said that the loan is intended for implementation of the second round of the infrastructure stability program and, in his words, the money will be spent on improvement of some infrastructures.

“The loan will be provided in two parts – $6 million in 2016 and $30 million in 2017,” he said.

It was declared earlier that the loan will be spent on improvement of a road management area as well as water supply and electrical energy industry.

The loan is to be extended for 15 years with a three-year grace period. –0—-

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