YEREVAN. – Armenia will receive a US$300-million preferential and long-term budgeting loan from the Eurasian Bank.

The draft agreement on getting this amount was approved at Thursday’s Cabinet session.

The Minister of Finance, Gagik Khachatryan, noted that this loan will be provided to fund the state budget expenditures.

The loan term is twenty years with a grace period of ten years, and at a 2.1-percent interest rate.

The loan will be provided in three tranches comprising $100 million, each, and by no later than March 31, 2018.