YEREVAN, April 18. /ARKA/. Armenia’s National Assembly has ratified today a 102 million euro loan agreement with the International Bank for Reconstruction and Development (IBRD, a WB division) on universal health coverage program.
The agreement, signed in July, 2024, was approved by the Armenian government on September 12, 2024.
The program is designed to assist the Ministry of Health of Armenia in the implementation of comprehensive health insurance, improving the quality and delivery of primary health care, increasing the efficiency of the country’s health spending and reducing financial barriers to the provision of health services to the population.
The program will be in effect until September 30, 2029. The interest rate on the loan is variable and the repayment period is 25 years (of which 15 years is a grace period).
Loan servicing payments will be made twice a year, on January 15 and July 15 of each year, and principal repayments will begin on July 15, 2039 and continue until January 15, 2049 in equal installments of 5% of the loan amount.-0-
