A budget support loan agreement worth €92,3 million was signed between Armenia and the International Bank for Reconstruction and Development.

The agreement was signed by Vahe Hovhannisyan, Minister of Finance of Armenia, and Carolin Geginat, Country Manager of the World Bank (WB) for Armenia, the Ministry of Finance of Armenia informs Armenian News-NEWS.am.

The respective budget support funds will be directed to the funding of the deficit defined by the law on the 2023 state budget of Armenia.

The project plans to implement the following processes in Armenia:

Promoting climate change mitigation and adaptation and improving the regulatory framework for environmental management;

Strengthening equality and promoting human capital development;

Increasing the effectiveness of the anticorruption framework and the justice sector.