YEREVAN. – The Government of Armenia on Thursday approved the draft of the Third Public Sector Modernization Project agreement between Armenia and the International Bank for Reconstruction and Development (IBRD).

Pursuant to this agreement, Armenia will receive a US$21-million loan for a 25-year term, whose 14.5 years will be on preferential terms.

The objective of this project is to improve quality of the public financial reporting and to improve access to selected enhanced e-government services in Armenia.