YEREVAN, November 20. /ARKA/. The Armenian government on Friday approved a 50 million euro loan agreement concluded with the OPEC Fund for International Development (OFID).

According to the government, the loan will be used to finance the implementation of «Green, Sustainable and Inclusive Development Program" designed to promote green, sustainable and inclusive development in Armenia.

The goal is to mitigate climate change, as well as improve environmental management and energy efficiency.

The loan will be provided with  a floating interest rate of 6-month EURIBOR + 1.61% with a maturity of 20 years and a five-year grace period.

Loan repayments are to be made twice a year with repayment of the principl amount due between October 15, 2028 and October 15, 2042. --0--