YEREVAN. – The Minister of Finance, Gagik Khachatryan, and the World Bank (WB) Country Manager for Armenia, Laura Bailey, on Wednesday signed loan agreements.
Accordingly, the International Bank for Reconstruction and Development (IBRD) will provide Armenia a $52-million soft loan within the framework of the Electricity Transmission Network Improvement Project, informed the press service of the Ministry of Finance of Armenia.
In addition, the IBRD will allocate Armenia a $30-million soft loan along the lines of the Social Investment and Local Development Project.
The repayment period for both loans is 25 years, out of which 14.5 years will be with reduced rates.t
