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Armenia’s National Assembly ratifies two loan agreements worth $100 million and €100 million

Economy
бизнес, инфляция, экономика
бизнес, инфляция, экономика

YEREVAN, December 9. /ARKA/. The Armenian National Assembly has ratified two loan agreements at an extraordinary session on Friday.

Armenian Deputy Minister of Finance Vahe Hovhannisyan noted that under one agreement Armenia will receive $100mln from the Asian Development Bank, and under the other  €100mln from the French Development Agency (AFD).

The first loan’s repayment period is 12 years with a grace period of 3 years, and 20 years for the second with a 5-year grace period.

Both agreements give the government the freedom to choose between fixed and floating interest rates.

The loans will be used to cover the 2022 budget deficit and implement several capital expenditures. -0-

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