The International Bank for Reconstruction and Development will provide a loan worth EUR 92,300,000 to Armenia – 2024-04-03 05:24:02

The executive approved the proposal to sign the financing agreement “Second Operation of the Green, Sustainable and Inclusive Development Policy” between the Republic of Armenia and the International Bank for Reconstruction and Development.

According to the agreement, it is planned to provide RA with a loan worth EUR 92,300,000 and a grant in the amount of USD 16,000,000 million from the “Global Facility for Preferential Financing”. The budget support funds will be directed to “2024 of the Republic of Armenia. on the state budget” to the financing of the deficit defined by the law of the Republic of Armenia, therefore timely receipt of credit funds is of great importance from the point of view of financing the expenses provided for by the categories of the state budget.

The implementation of measures and reforms in a number of areas defined by the bilaterally agreed policy action table is a prerequisite for receiving budget support funds.

The scope of the project includes, in particular: promoting climate change mitigation and adaptation, improving the regulatory framework for environmental management, strengthening equality and promoting human capital development, strengthening the anti-corruption framework and the effectiveness of the justice sector.