YEREVAN, November 18, /ARKA/. Armenia’s Finance Ministry and the French Development Agency signed November 17 a 100 million euro loan agreement, the Ministry of Finance reported. It said the loan will be provided in two installments.

The Finance Ministry also signed a $100 million loan agreement with the Asian Development Bank.

Both loans are based on Fiscal Sustainability and Financial Markets Development Program’s policy.

The documents were signed by Armenian Minister of Finance Tigran Khachatryan, Director of the Department of Eastern Europe, Middle East and Asia at the French Development Agency Cyril Belier and French Ambassador to Armenia Anne Louyot.

The agreement with the ADB was signed on behalf of the bank by Huiping Huang, Deputy Director of ADB Armenia Office.

The main objectives of budget financing are to help the government of Armenia strengthen its fiscal management policies and practices, improve the infrastructure of money markets and the government securities market, and promote capital markets.

The program supports reforms that will upgrade fiscal planning, management, and transparency, and raise the economic and social impact of public expenditure.  

It aims to promote liquid money markets and sustain a public debt securities issuance program that is conducive to market development. It also supports actions that will broaden the base of financial instruments and investors, including the possible development of green finance instruments.-0-