The OPEC Fund for International Development will provide Armenia with a loan of 80 million euros aimed at supporting the state budget. The Armenian government deemed it appropriate to conclude the relevant agreement with the Fund during a meeting on September 3.
The justification for the project emphasizes that the prerequisite for receiving budget support funds is the implementation of measures and reforms in several areas. The framework of reforms is consistent with the policy of the loan agreement for 170.3 million euros signed between the Republic of Armenia and the International Bank for Reconstruction and Development.
According to the Agreement, the OPEC Fund commits to provide the Republic of Armenia with a budget support loan of 80 million euros at a floating annual interest rate of 6-month EURIBOR + 1.56%. The loan repayment period is 18 years, with a grace period of 5 years.
