The government of Armenia has entered into an agreement with the International Bank for Reconstruction and Development to receive financial assistance in the form of a loan amounting to 92.3 million euros and a grant of 16 million dollars.
At a meeting on March 28, the Armenian Cabinet approved the signing of an agreement on financing the "Green, Sustainable, and Inclusive Development" program with the International Bank for Reconstruction and Development.
According to the agreement, Armenia will receive a loan of 92.3 million euros and a grant of 16 million dollars.
The receipt of the loan will become a key factor in financing current expenditures planned by the state budget.
The program includes measures to mitigate the consequences of climate change and adapt to them, improve the legal framework for environmental management, support equality and human capital development, as well as enhance the effectiveness of the anti-corruption structure and the judiciary sector.
As of the end of 2023, Armenia's national debt amounted to about 11 billion dollars, equivalent to 49.3% of GDP. According to the government's program, the size of the national debt by the end of 2024 will reach 5 trillion 314 billion drams (50.5% of GDP).
In 2024, 805.2 billion drams will be required for the repayment and servicing of the government's debt, of which 483.0 billion drams will be for debt repayment, and 322.2 billion drams for interest payments.
