On October 11, Armenia’s Financial-Credit and Budgetary Commission of the National Assembly approved a loan agreement with the Eurasian Development Bank (EDB) for a budgetary loan of $100 million.
Deputy Minister of Finance Eduard Hakopyan presented the ratification project of the agreement, titled "On the Provision of a Financial Loan from the Resources of the Eurasian Stabilization and Development Fund."
According to Akopyan, the primary goal of the loan is to implement reforms aimed at enhancing the country's economic potential. The program includes measures for export diversification, investment stimulation, and the promotion of complex product manufacturing.
The loan is provided on favorable terms: a fixed interest rate of 4% per annum, with a 20-year repayment period, 10 years of which is a grace period. These terms will allow Armenia to carry out long-term economic projects without placing an excessive burden on the state budget.
Earlier, BMG reported that as of the end of August 2024, Armenia's national debt amounted to 4.83 trillion drams ($12.38 billion), increasing by 35 billion drams ($89.7 million) or 0.7% since the beginning of the year, according to data from the Ministry of Finance.
Compared to August 2023, the national debt grew by 435 billion drams ($1.12 billion), a 9.9% increase.
