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YEREVAN. – The Armenian authorities have ensured the provision of 71 billion drams in loans under state assistance against the backdrop of the coronavirus pandemic. Arthur Javadyan, Governor of the Central Bank of Armenia, stated this during Friday’s debates on the 2019 state budget performance report, at the joint sitting of the standing committees of the National Assembly.

According to him, thanks to three state programs, loans worth more than 71 billion drams have been drawn to the country's economy through the banking sector. "Some of the funds have been allocated to agriculture, others—to small and medium-sized businesses," Javadyan said.

In addition, part of the money was allocated for the payment of salaries and taxes.

The head of the Central Bank also noted that, in general, loans to agriculture, industry, construction, transport, and communications increased last year. Moreover, consumer loans also increased reaching 934 billion drams.

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