Armenia to receive a US$50 budget loan from IBRD

 The Armenian cabinet has approved on Thursday the draft agreement on a US$50 million loan from the International Bank of Development and Reconstruction (IBRD) for the Development Policy 4th Loan for the country.

The agreement envisages a budget loan to the Republic of Armenia to further support on-going reforms in the two main components budgetary, social, and environmental sustainability as well as competitiveness growth.

The US$50 loan is a fixed spread loan with a 14.5-year grace period and a total repayment term of 25 years.