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November 30
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A $17.9mn loan will be provided to Armenia within the framework of a bilateral loan agreement.

Deputy Minister of Territorial Administration and Infrastructure Vache Terteryan stated this at Tuesday’s National Assembly session debates on the issue of ratification of the Additional Financing for the Social Investment and Local Development Project loan agreement that was signed between Armenia and the International Bank for Reconstruction and Development (IBRD).

Accordingly, a total of $25.4 million will be allocated for the joint project, of which $17.9 million will be provided by the IBRD as a loan, $6.3 million with state co-financing and $1.1 million through community investments.

This loan shall be repaid within 25.5 years, of which the grace period is 14.5 years.

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