The Asian Development Bank (ADB) will provide Armenia with a $250 million loan. This was announced by Deputy Minister of Labor and Social Affairs Davit Khachatryan during the debates in the National Assembly Tuesday regarding the signing of loan and grant agreements between Armenia and the ADB under the Transformative Housing Reforms for Improved Vitality and Empowerment (THRIVE) Program.

“Armenia, within the framework of the government decision of May 16, 2024, is implementing a state support program for housing for [Armenian] families forcibly displaced from Nagorno-Karabakh. Currently, 3,100 [such] families have received certificates under the program, of which 1,140 have already used them,” Khachatryan added.

Under the aforesaid program, more than 2 billion drams have already been allocated from the Armenian state budget.

The $250 million loan will be provided under the following conditions, in particular:

The loan interest rate is floating.

The deadline for loan provision is December 31, 2030.

The loan term will be 27 years, including a 10-year grace period.