The RA Minister of Finance, Vahe Hovhannisyan, Has Signed a Loan Agreement Between the Republic of Armenia and the Asian Development Bank

The RA Minister of Finance, Vahe Hovhannisyan, Has Signed a Loan Agreement Between the Republic of Armenia and the Asian Development Bank

Today, the RA Minister of Finance, Vahe Hovhannisyan, signed the loan agreement "Fiscal Stability and Financial Markets Development Program - Subprogram 2" between the Republic of Armenia and the Asian Development Bank. Under this agreement, it is planned to attract a budget support loan amounting to approximately 89,469,000 euros.

The scope of the budget support program includes several sectoral reforms, including improvements in fiscal, public debt, and financial risk management policies, strengthening the framework for issuing and managing government securities, expanding financial instruments, and enhancing corporate governance and transparency.

This second subprogram is part of a multi-year program. Subprogram 1 was implemented in 2022, with its loan agreement signed on November 17, 2022.

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