Armenia to receive €75m loan from French Development Agency to improve financial management 

Banks

YEREVAN, 12 October. /ARKA/. The Armenian National Assembly’s Committee on Fiscal and Budget Affairs on Friday approved a EUR 75 million loan agreement with the French Development Agency.

Deputy Finance Minister Eduard Hakobyan said the loan will be used for the improvement of the public finance management system, strengthening of the system of issuing and managing state securities, money market infrastructure, as well as the development of new instruments for financing business activities and ensuring more transparent management.

Armenia will receive a loan of 75 million euros as budgetary support. The loan repayment period is 20 years, with a five-year grace period. -0-

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