The Fiscal Sustainability and Financial Markets Development Program (Subprogram 2) Loan Agreement between the Republic of Armenia and the Asian Development Bank was signed on November 1, 2024. It is planned to provide Armenia with a loan of 89.469.000 euros for the implementation of the budget support program provided for by the Agreement. This was stated by the Minister of Finance of the Republic of Armenia Vahe Hovhannisyan during the extraordinary sitting of the Standing Committee on Financial-Credit and Budgetary Affairs convened on December 4.
According to the Minister, the main goal of Subprogram 2 is to deepen Armenia’s financial markets and strengthen the country’s fiscal management and stability.
According to the presentation of Vahe Hovhannisyan, the Committee also debated the draft law on Ratifying the Second Green, Resilient and Inclusive Development Policy Operation Loan Agreement between the Republic of Armenia and the OPEC Fund for International Development, which envisages providing Armenia with 50 million euros budget support loan worth.
The project aims to promote green, resilient and inclusive development in Armenia, contributing to climate change mitigation and adaptation, improving environmental management and energy efficiency.
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The draft laws have been endorsed.
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