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Armenia Will be Granted a 45.8mn Euro Loan

Armenia will be granted a 45.8mn euro loan in accordance with a loan agreement signed between Armenia and the International Bank for Reconstruction and Development, on a policy of fiscal, economic and public management. Deputy Minister of Finance Armen Hayrapetyan said this at the December 12 special sitting of the National Assembly of Armenia, News.am reports.

The main goals of the program, he said, are to strengthen competition, trade and quality, anticorruption processes and efforts, assistance to the justice and public service activities, as well as increase tax compliance and efficiency in capital spending. "The loan repayment period is 25.5 years with a 14.5-year grace period," Hayrapetyan added.

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