Armenia will get another loan from the World Bank to replenish the state budget. This time it will amount to 170.3 million euros. The respective draft agreement was approved at Wednesday’s cabinet meeting of the Armenian government.

The loan will be directed to structural reforms being developed by the government to recover Armenia’s economy. A similar practice is also used when receiving budget loans from other international financial organizations.

In particular, it is planned to improve Armenia’s legislation in economic competition and adopt a new edition of the law on investments, which will provide for expanded legal guarantees for investors in the country.

In addition, the powers of the commission for economic competition and consumer rights protection of Armenia will be expanded in terms of preventing price agreements and other anti-competitive actions.

A separate direction of reforms will be the development of a legal framework in Armenia’s green economy. In particular, greenhouse gas emission quotas will be set for the country’s businesses.