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Efficiency of utilization of international loans to be monitored under law in Armenia

25.05.2015 19:51

Efficiency of utilization of international loans to be monitored under law in Armenia

YEREVAN, May 25. /ARKA/. Control over efficient utilization of international loans will be brought under the legal framework, head of the Prosperous Armenia Party faction Naira Zohrabyan said at the 2014 budget execution discussions in the parliament on Monday.

The respective legislative proposals are currently discussed in the parliament, she said.

Substantial percentage of any loan is spent on consulting services and should be subject to serious monitoring that is possible only through a law, Zohrabyan said. According to the lawmaker, this approach will help reduce corruption risks and enhance loan effectiveness.

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