On June 26, Armenian Finance Minister Vahe Hovhannisyan and Regional Director of the French Development Agency (AFD) in Eurasia Mathieu Vasseur signed a €75 million loan agreement. The agreement, registered under the number CAM 1024 01 C, aims to provide budget support in the form of a policy-based loan.
According to Armenia's Ministry of Finance, the program's goal is to assist the Armenian government in enhancing the efficiency and stability of public service delivery and developing the financial sector. The program includes:
- Improving the public financial management system.
- Strengthening the structure of government securities issuance and management, as well as money market infrastructure.
- Developing new financing instruments for entrepreneurial activities and ensuring more transparent governance.
The budget financing is part of a multi-year program implemented jointly with the Asian Development Bank.
