Armenian parliament ratifies 50 million euro loan agreement

The RA National Assembly has ratified the agreement to
arrange a budget support loan from OPEC (Organization of the Petroleum
Exporting Countries) in the amount of 50 million euros. The bill was adopted by
a vote of 61 to 26 at the NA extraordinary meeting.

Thus, the “Green, Resilient and Inclusive Development
Program” loan agreement between the Republic of Armenia and the OPEC Fund for
International Development has been ratified.

The funds will be allocated for capital expenditure,
including school, kindergarten, road, and other infrastructure repair works.
The loan repayment period is 20 years, with five years being preferential.