YEREVAN. – The government of Armenia has submitted to the National Assembly for approval the draft on the ratification of the Additional Financing of the Irrigation System Enhancement Project loan agreement with the International Bank for Reconstruction and Development (IBRD), according to Zhamanak (Time) newspaper.
“Under this agreement, Armenia receives a 2-million-[US] dollar loan.
“The amount, of course, is not so great. But Armenia’s external debt has reached such a critical level that there are no longer much expectations of a larger loan,” wrote Zhamanak.