YEREVAN, April 11. /ARКА/. Armenia’s National Assembly’s committee on health issues has approved the ratification of a 102 million euro loan agreement with the International Bank for Reconstruction and Development (IBRD) on the universal healthcare coverage program.
“Such a loan program is being implemented for the first time in the healthcare sector of Armenia. Its sole goal is to make high-quality medical services accessible to our population,” First Deputy Minister of Health Lena Nanushyan said at today’s meeting of the committee.
On September 12, 2024, the Government of Armenia approved the loan agreement with the IBRD (a WB unit) on the implementation of the universal healthcare coverage program, which was signed on July 25, 2024.
The program will be in effect until September 30, 2029. It is aimed at assisting the Ministry of Health in the implementation of comprehensive health insurance, improving the quality and provision of primary health care, increasing the efficiency of the country’s health care expenditures and reducing financial barriers to the provision of health services to the population.
The interest rate on the loan is floating, the repayment period is 25 years (of which 15 years are a grace period). Loan servicing payments will be made twice a year – on January 15 and July 15 of each year, and the repayment of the principal amount will begin on July 15, 2039 and will last until January 15, 2049 in equal installments of 5% of the loan amount.-0-
