YEREVAN, October 30. /ARKA/. At a meeting on Thursday, the Armenian government approved the signing of a loan and grant agreement with the Asian Development Bank (ADB) for the Transformative Housing Reforms for Improved Vitality and Empowerment (THRIVE) Program.
According to the government’s rationale, the $250 million loan will be used to address the housing needs of displaced persons from Nagorno-Karabakh.
The loan has a 27-year repayment period, including a 10-year grace period, and a floating interest rate of 4.93%.
According to the Ministry of Finance, the draft grant agreement between Armenia and ADB for the THRIVE project does not contain any provisions that would reduce revenues or increase expenditures that would impose financial obligations on Armenia.
About the Asian Development Bank
Since 2005, as of October 2025, the Asian Development Bank has provided over $2 billion in assistance to Armenia, making it one of the country’s largest multilateral development partners. These include projects in transport, energy, water supply, and urban infrastructure.
In the private sector, ADB supports utilities and infrastructure, financial institutions, and agribusiness.-0-
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