The Armenian government plans to get new loans worth $150 million and €80 million. We learn about this from the relevant draft decisions on the agenda of the Cabinet meeting of the government on Thursday.

With the first of them, it is planned to receive a budget loan of $150 million from the Asian Development Bank. It will be provided for 15 years, with a floating interest rate of 4.58 percent. The first component of this loan agreement is intended to support the strengthening of fiscal management, public debt, and financial risk management policies, as well as strengthening the sustainability of infrastructure investments in Armenia. The second component involves improvement of the government securities market, and the third—expanding the range of financial instruments and investors, as well as will be aimed at improving the transparency of companies.

The second loan agreement was signed with the International Bank for Reconstruction and Development, and this loan is $170 million. It is intended to support investment, trade liberalization, and encouraging competition, as well as to ensure greener and more resilient growth in Armenia. This loan has a term of 28 years and an annual interest rate of 3.9 percent.

As of the end of March, the Armenian government’s external debt exceeded $6.7 billion. In total, the government’s domestic and external debt combined exceeds $14.1 billion. Also, the Central Bank of Armenia has a debt of $500 million.