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Armenia receives $37-million loan

17:10, 07.06.2012 Region: Armenia Theme: Economics

YEREVAN. – In May 2012, Armenia’s State Budget received a US$37-million loan from the International Development Association (IDA) and the European Bank for Reconstruction and Development (EBRD), which are World Bank Group members. 

Armenia’s National Assembly ratified on March 20 the funding agreement signed between Armenia and the IDA and the loan agreement signed between Armenia and the EBRD on February 15, 2012.  

But since these amounts were not envisioned in the State Budget, the Government on Thursday was compelled to redistribute the sources for funding the Budget deficit.

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