The Government of Armenia will take a USD 300 million loan from the Eurasian Development Bank. The item is included in the agenda of the Cabinet's today's sitting. The loan is to be disbursed in three tranches of $100 million each with an interest rate of 2.1 per year.
The Bank will provide the loan with a 10-year privilege period, and Armenia will begin to pay off the principal amount only in the second decade. According to a Government statement, the money will be directed toward financial stabilization of the country's energy sector, as well as improvement of efficiency of public finance management, and business environment.
Note, based on official Government information, in 2015 Armenia intends to obtain a total of $900 million credits from various international structures.