ARMENIAN PARLIAMENT RATIFIES LOAN AGREEMENTS WORTH $75MLN AND $49MLN
YEREVAN, December 16. /ARKA/. Armenia’s parliament ratified the
loan agreements with the International Bank for Reconstruction and
Development (IBRD) and the Asian Development Bank (ADB) worth $75
million and $49 million respectively.
The government approved the signing of the agreements earlier.
According to the first agreement, the IBRD will provide a $75 million
loan to Armenia for 25 years, first deputy minister of finance Pavel
Safaryan said.
Under the other agreement, Armenia will receive $49 million in loan
from the ADB, said deputy minister of finance Vakhtang Mirumyan. The
loan will be extended for 25 years at 2% per annum, in two tranches –
$20 million in 2014 and $29 million in 2015.
The loan funds will be spent on budget financing and macroeconomic
stability measures, he said. -0–
From: Emil Lazarian | Ararat NewsPress
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