Armenia to get €45.8 million budget assistance loan from IBRD

15.11.2019 10:56
Armenia to get €45.8 million budget assistance loan from IBRD

YEREVAN, November 15. /ARKA/. The International Bank for Reconstruction and Development (IBRD) will provide Armenia with a budget assistance loan worth €45.8 million, First Deputy Finance Minister Karen Brutyan said during a government meeting on Thursday.

The government approved today the proposal to sign a loan agreement with IBRD 'to develop policies in the fiscal, economic and public administration sectors."

The deputy minister said the loan is envisaged by the 2019 budget and will be used to finance the state budget deficit.

Brutyan added also that the procedures should be agreed promptly so that Armenia could receive the loan before the end of this year.

In late October, Brutyan had said that before the end of the year, the government would attract budget assistance loans in the amount of EUR 131.4 million. - 0--


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