Armenian Parliament ratifies €50 million loan from OPEC fund

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Economy

06.12.2024, 10:27

The Armenian parliament ratified a 50-million-euro loan agreement with the OPEC Fund for International Development on Thursday, intended to cover the budget deficit.

Armenian Parliament ratifies €50 million loan from OPEC fund

YEREVAN, December 6. /ARKA/. The Armenian parliament ratified a 50-million-euro loan agreement with the OPEC Fund for International Development on Thursday, intended to cover the budget deficit.

The loan funds will be used to implement several reforms, including measures to improve energy efficiency in households and businesses, reforms to the education and healthcare systems, and social support for refugees from Nagorno-Karabakh.

The loan repayment period will be 18 years, with a 5-year grace period, and a floating interest rate.-0-

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