Taking into account the forecasts for the deterioration of the economic situation in all countries globally amid the COVID-19 pandemic in 2020, international financial institutions are trying to support the consequences of overcoming the epidemic of member states, Armenian government reported.

In this context, as a result of the joint work of Armenia and the World Bank, the previous decision on the additional interest rate (1.7% per annum) on a number of loans provided to Armenia by the International Development Association was canceled for one year.

According to the World Bank and the Armenian finance ministry, as a result of this cancellation, the savings of the Armenia state budget on foreign interest payments will make about $ 13 million.